Tuesday, March 5, 2013

Wal-Mart Earnings Surpasses Expectations

Earnings Wal-Mart Lampaui Ekspektasi

Monexnews-Wal-Mart Stores Inc. on Thursday reported quarterly earnings that were better than analyst expectations, even though the prospects for the first quarter which they announce not too encouraging. In the same time, Wal-Mart also said it would raise its dividend by 18% in fiscal year 2014 to $ 1.88 per share.

These retailers scored a net profit of $ 1.67 per share on 4th quarter of 2012, up from $ 1.4 per share in the same period a year earlier. The company's Total revenue also increased to $ 127,9 billion from $ 123,17 billion in the 4th quarter of 2011. In advance Wall Street analysts estimate that Wal-Mart will rake in profit of $ 1,57 per share with total revenue reached $ 128,77 billion.

As for the first quarter of this year, Wal-Mart target profit will range between $ 1.11 per share to $ 1.16 per share. The figure is lower than the $ 1.18 per share prediction of analysts.

"Sales in early February look slower than expected, largely triggered by delays in income tax returns. And we've seen activity on the networks of shops began to normal at the end of last week, where most of the refund of tax has been implemented, "said Bill Simon, President and CEO of Wal-Mart USA, in a statement. Simon also added that consumer price increases depressed by the middle of the fuel, changes in inflation, and income tax hike.

Shares of Wal-Mart moving around 0.55% higher at pre-market session Thursday. (vid)

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Title Post: Wal-Mart Earnings Surpasses Expectations
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Author: Mohammad Zulfi Satriawan

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