Wal-Mart Stores Inc. on Thursday reported adjusted earnings of $1.60 per share, one penny higher than analysts' expectations. Total revenues rose 1.5 percent to $129.7 billion, from $127.8 billion, slightly under the $130 billion predicted by analysts. Profits fell to $4.43 billion.
"We expect economic factors to continue to weight on our outlook," said chief financial officer Charles Holley, noting guidance of $1.10 to $1.20 per share, lower than the $1.24 expected by analysts. The economic concerns, said Holley, "combined with investments in e-commerce, will make it difficult to achieve the goal we have of growing operating income at the same or a faster rate than sales."
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