Walmart reports third quarter EPS of $0.95

Wal-Mart Stores, Inc. WMT today reported financial results for the quarter ended Oct. 31, 2010. Net sales for the third quarter of fiscal year 2011 were $101.2 billion, an increase of 2.6 percent from $98.7 billion in the third quarter last year. Income from continuing operations attributable to Walmart for the quarter was $3.4 billion, up from $3.2 billion in the third quarter last year. Diluted earnings per share from continuing operations attributable to Walmart for the third quarter of fiscal year 2011 were $0.95, including a tax benefit of $191 million, or approximately $0.05. The tax benefit is due to favorable adjustments to current transfer pricing policies after negotiations with a foreign tax jurisdiction during the third quarter. This $0.95 compares to an adjusted diluted EPS of $0.82 in the third quarter last year.