Wal-Mart Full Year Income Up 8.3%, Revenue up 5%
Full fiscal year net income for Wal-Mart Stores totaled $16.999 billion, up 8.3% for the year, with total revenue reaching $469.162 billion, up 5%.
The company’s per share net earnings for the year was $5.04 cents, well ahead of the consensus analyst estimate of $4.92.
For the fourth quarter (period ended Jan. 31), net income totaled $5.606 billion, up 7.9% compared to the year-ago period. Fourth quarter per share earnings were $1.68, which was 11 cents better than the consensus estimate of analysts who cover Wal-Mart.
“Walmart topped off a really good year with a solid fourth quarter, and I’m proud of what we accomplished as a team,” Mike Duke, Wal-Mart Stores, Inc. president and CEO, said in the earnings statement. “We have high expectations for fiscal 2014, and I’m optimistic as I look ahead. Walmart is operating in markets that offer continued opportunity for growth, both in our stores and online. With our core Walmart U.S. business operating so well, our investments in e-commerce and our international markets focused on growth and improving returns, we are truly the best positioned global retailer.” Click here to read the full story from our partners at TheCityWire.com.