Walmart Stores Inc. said Thursday fiscal second-quarter profit came in at $3.44 billion, or 88 cents a share, vs. $3.45 billion, or 87 cents a share, a year earlier. Sales in the quarter ended July 31 fell to $100.9 billion from $102.3 billion, the No. 1 U.S. discounter and the world's largest retailer said.
Analysts surveyed by Thomson Reuters estimated that the Bentonville, Ark., company's profit was 86 cents a share on sales of $103.1 billion. Wal-Mart raised the bottom end of its full-year profit forecast to $3.50 to $3.60 a share from $3.45 to $3.60.
Per-share profit for the third quarter is forecast to be 78 cents to 82 cents a share, including a three-cent negative impact from currency exchange rates. Analysts surveyed by Thomson estimated profit of 80 cents a share in the third quarter and $3.56 for the year.
How many companies that reported all these "great numbers" beat quarterly profits on a year-over-year basis? Not many. Walmart isn't going to be a pick of the traders out there, but will continue to generate solid returns for shareholders. There is also still room for overseas growth as well. Walmart has clear advantages in areas like grocery, and didn't get into trouble with holding consumer debt. The stock is a good "value" here.