Investing.com - Shares of Dow component Wal-Mart (NYSE:WMT) edged higher in pre-market trade on Thursday, after the retailer reported better than expected third quarter earnings.
U.S. retail giant Wal-Mart said earnings per share came in at $1.15 in the 13-week period ended October 31, above market expectations for earnings of $1.12 per share.
The company’s fiscal third quarter revenue totaled $118.1 billion, slightly below forecasts for revenue of $118.32 billion.
Wal-mart U.S. comp sales increased 0.5% for the 13-week period ended October 31, compared to expectations for a flat reading.
The retailer's U.S. net sales increased $2.3 billion, or 3.4 percent, to approximately $70.0 billion.
Wal-mart forecasts fourth quarter earnings per share between $1.46 and $1.56, which includes an estimated negative impact of approximately $0.03 per share
Wal-mart also updated its full year earnings guidance to a range of $4.92 to $5.02, which includes an estimated negative impact of approximately $0.03 per share related to the future closure of underperforming stores in Wal-mart Japan. The company's previous guidance was $4.90 to $5.15.
Following the release of the report, WMT shares increased 1.7% in pre-market trade.
Meanwhile, U.S. stock futures pointed to a higher open. The Dow futures pointed to a gain of 0.25% at the open, the S&P 500 futures added 0.3%, while the Nasdaq 100 futures picked up 0.3%.