Bentonville, Ark. -- Wal-Mart Stores Inc. reported Thursday net income of $3.64 billion for the quarter ended Oct. 31, up from $3.34 billion in the year-ago period.
Sales rose 3.4% to $113.20 billion, as U.S. sales beat internal expectations but overall missed Wall Street’s expected $114.96 in revenue.
Wal-Mart U.S. saw same-store sales rise 1.5%, marking the fifth consecutive quarter of same-store sales growth after nine straight quarterly declines. At Sam’s Club, same-store sales rose 2.7%, excluding fuel.
The Walmart U.S. unit forecast a 1% to 3% increase in same-store sales for the fourth quarter, when it will be helped by custom