Walmart Thursday said that its fourth-quarter profit rose 21 percent over the same time the year before, as performance exceeded the company's guidance.
The retail giant reported net income of $4.6 billion, up from $3.8 billion the same time the year before. Walmart also said net sales rose 4.6 percent in the quarter to $112.8 billion.
"Walmart's exceptional earnings for the fourth quarter and the full year exceeded our expectations," Walmart CEO Mike Duke said in a statement. "These results reflect the ongoing underlying strength of our business and our strategies to improve shareholder value through our priorities - delivering growth, leveraging expenses and improving returns."