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Retail giant’s earnings beat expectations

Tuesday, Feb. 18, 2003 | 9:41 a.m.

BENTONVILLE, Ark. -- Wal-Mart Stores Inc., the world's largest retailer, said today its fourth-quarter earnings rose 16.3 percent, beating analysts expectations.

Wal-Mart earned $2.53 billion, or 57 cents per share, for the three months ending Jan. 31, compared to $2.19 billion, or 49 cents per share, a year earlier. Analysts surveyed by Thomson First Call forecast earnings of 56 cents per share. Sales of $71 billion were up 10.7 percent from the year-ago quarter.

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