Wal-Mart Stores Q2 Profit Declines; Cuts FY16 EPS Outlook - Quick Facts

(RTTNews) - Retail giant Wal-Mart Stores Inc. (WMT) reported second-quarter net income attributable to the company of $3.5 billion, versus last year's $4.1 billion, with quarterly earnings per share dropping 14.3% year-over-year to $1.08 from $1.26.

Earnings per share from continuing operations attributable to the company totaled $1.08, compared with the prior-year figure of $1.21. On average, 26 analysts polled by Thomson Reuters expected the company to report earnings of $1.12 per share for the quarter. Analysts' estimates typically exclude special items.

Consolidated revenue reached $120.23 billion, up 0.1 percent from $120.13 billion in the comparable quarter last year. Twenty two analysts estimated revenue of $119.72 billion for the quarter.

Looking ahead to the third quarter, the company expects earnings per share to range between $0.93 and $1.05. Analysts currently expect third quarter earnings of $1.08 per share.

For full year 2016, the company lowered its earnings to a range of $4.40 to $4.70 per share from its previous range of $4.70 to $5.05 per share. Analysts now expects full year earnings of $4.77 per share.