Wal-Mart Earnings Exceed Expectations

Wed., Feb. 16, 2000

From Staff

Wal-Mart Stores Inc.’s fourthquarter profits rose 23 percent from a year ago, fueled by strong sales growth at its U.S. superstores and operations abroad.

The results reported Tuesday by the world’s largest retailer were slightly above analyst expectations.

Wal-Mart earned $1.92 billion, or 43 cents a share, for the quarter ended Jan. 31, compared with $1.56 billion, up from 35 cents a share a year ago. That’s above the 42 cents a share that analysts’ had forecast.

In other reports:

CBS Corp. narrowly beat analysts’ expectations for fourth-quarter earnings as advertising gains in its television and radio operations surged ahead.

Sharply higher crude oil prices more than offset pinched margins in the refining industry to help boost BP Amoco PLC’s fourth-quarter operating profit by 145 percent.

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Wal-Mart Earnings Exceed Expectations

Jesse Tinsley

Jim Meehan

Molly Quinn

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