Investing.com - Dow component Wal-Mart reported better-than-expected fourth quarter earnings, despite missing on revenue figures, it announced on Thursday, sending its shares lower in pre-market trade.
U.S. retail giant Wal-Mart said adjusted earnings per share were $1.61 in the fourth quarter of 2014, above expectations for adjusted earnings of $1.54 per share.
Reported EPS was $1.53, which includes a negative impact of $0.08 per share from certain discrete items.
The company’s fourth quarter revenue totaled $131.6 billion, missing forecasts for revenue of $132.3 billion. Currency exchange rate fluctuations negatively impacted revenue by approximately $2.6 billion.
Wal-Mart U.S. comp sales increased 1.5% for the 13-week period ended January 30, 2015.
The company issued full fiscal 2016 EPS guidance range of $4.70 to $5.05, and a first quarter forecast of $0.95 to $1.10.
"We had a good fourth quarter to close out our fiscal year, with underlying EPS of $1.61. Walmart U.S. delivered better than expected comp sales. Sam's Club had its best performance of the year, and Walmart International had solid sales and profitability," said Doug McMillon, Wal-Mart Stores (NYSE:WMT), Inc. president and CEO.
Following the release of the report, Wal-Mart shares declined 0.95% in pre-market trade to $85.47 from Wednesday's closing price of $86.29.
Meanwhile, U.S. stock futures pointed to a mixed open. The Dow futures pointed to a loss of 0.15% at the open, the S&P 500 futures dipped 0.2%, while the Nasdaq 100 futures tacked on 0.1%.
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Wal-Mart drops 1% in pre-market trade after cutting guidance
Published 02/19/2015, 09:01 AM
Wal-Mart drops 1% in pre-market trade after cutting guidance
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