Walmart Profit Rises
Walmart Tuesday said that it posted first quarter sales of $99.1 billion and net income of $3.32 billion, both increases from the same period the year before.
"Walmart kicked off the fiscal year with record first quarter net sales and earnings, and I'm pleased that earnings exceeded guidance," Mike Duke, Walmart's president and chief executive officer, said as part of the announcement. "Our teams around the world delivered on our commitment to the productivity loop. We leveraged operating expenses for the second consecutive quarter and improved the profitability of our business.
The company earlier this week announced a big ramping up of its consumer electronics offerings.