BENTONVILLE, Ark. (AP) _ Walmart Inc. (WMT) on Thursday reported fiscal first-quarter net income of $3.84 billion.
On a per-share basis, the Bentonville, Arkansas-based company said it had profit of $1.33. Earnings, adjusted for non-recurring gains, came to $1.13 per share.
The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.02 per share.
The world’s largest retailer posted revenue of $123.93 billion in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $125.33 billion.
Walmart shares have increased 7% since the beginning of the year, while the Standard & Poor’s 500 index has risen 14%. The stock has climbed 18% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WMT at https://www.zacks.com/ap/WMT
The Associated Press