The net profit of the American Wal-Mart Stores Inc. (NYSE: WMT), the world's largest retailer, in the first fiscal quarter (February-April) decreased by 8% to $ 3.08 billion, or $ 0.98 per share, compared with $ 3.34 billion, or $ 1.03 per share, for the same period of the previous year, is said in a press release.
Nevertheless, the result surpassed the expectations of experts.
The consensus forecast of analysts polled by FactSet, for this indicator was $ 0.88 per share.
Wal-Mart's revenue increased by 0.9% in the last quarter, to $ 115.9 billion; it was also better than the average forecast of experts at the level of $ 113.2 billion.
The sales of Wal-Mart stores open at least a year ago, increased by 1%, while economists expected an increase by 0.5%. In the US, this figure increased by 1%.
The whole network sales in the US totaled $ 73.3 billion, and abroad - $ 28.1 billion.
Sam's Club sales, Wal-Mart division, which is the operator of self-service wholesale centers, increased in February and April by 1%, to $ 13.6 billion.
According to the forecast the retailer, its net profit in the second quarter will be be $ 0.95-1.08 per share. The experts polled by FactSet on average estimated the figure at $ 0.98 per share.
The sales of stores older than one year, will increase in the current quarter by 1%, predicts Wal-Mart.
Wal-Mart operates more than 11.5 000 stores in 28 countries and online shops in 11 countries, serving about 260 million customers. The company employs more than 2.2 million people, the US retailer being the largest employer in the private sector (1.4 million).