Summary Box: Wal-Mart’s 2Q net income rises, but sales disappoint
By APTuesday, August 17, 2010
Summary Box: Wal-Mart’s 2Q results
THE RESULTS: Wal-Mart’s net income was $3.59 billion, or 97 cents per share. That compares with $3.47 billion, or 89 cents per share, a year ago. Revenue rose almost 3 percent to $103.7 billion.
BEHIND THE NUMBERS: Cost-cutting and global sales helped push Wal-Mart’s profits, but it’s facing weak business at U.S. Walmart stores amid a tough economy. Merchandising problems have also hurt business.
OUTLOOK: The company raised its annual earnings forecast.
YOUR VIEW POINT
