Wal-Mart (WMT, $52.97) reported 3Q earnings before the bell that came in better than Wall Street’s expectations. The world’s largest retailer posted a profit of $3.24 billion, or $0.84 a share. Expectations were for 81 cents, so the company beat by 3 cents. For 4Q, Wal-Mart sees earnings coming in between $1.08 and $1.12 a share, versus estimates of $1.12.
On the negative side, revenue came in at $99.4 billion, up from $98.3 billion but the Street was looking for $99.9 billion. Folks, they may have missed revenue numbers…who cares. Look at how much money that is. In ONE quarter the company’s sales hit $100 billion you might as well say…wow.
In early morning trading…the stock…..is up. The stock did lose a little luster when the news first came out at 8:30am but it is shortly after 9am and the stock is showing a bid of $53.45 and the ask was $53.50. This was our retail play from yesterday and current subscribers appear to have a winner, winner chicken dinner on their hands…check the Members Area for the update.
As we head to press, Dow futures are lower by 27 which means we might be a little weak at the open today.