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Wal-Mart earnings beat expectations; shares up

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Wal-Mart Stores Inc reported stronger-than-expected quarterly earnings on Tuesday as it booked its fifth straight gain in same-store US sales, sending its shares more than 2 per cent higher in premarket trading.

[NEW YORK] Wal-Mart Stores Inc reported stronger-than-expected quarterly earnings on Tuesday as it booked its fifth straight gain in same-store US sales, sending its shares more than 2 per cent higher in premarket trading.

Net profit attributable to Wal-Mart fell to US$3.304 billion, or US$1.03 per share, in the third quarter ended on Oct 31 from US$3.711 billion, or US$1.15 per share, a year earlier.

Analysts on average had expected 98 cents per share, according to Thomson Reuters I/B/E/S.

REUTERS