Wal-Mart (WMT) Reports 10% Increase In First-Quarter Profit

Wal-Mart Stores, Inc. WMT reported a 10% increase in first-quarter profit, today. The company reported first-quarter profit of $3.32 billion, or $0.88 per share, compared with a profit of $3.02 billion, or $0.77 per share reported for the same period last year. Revenue increased 5.9% to $99.85 billion in the quarter. Excluding fuel, U.S. same-store sales were down 1.1%. Gross margin fell from 24.7% to 24.6% in the quarter. Shares of Wal-Mart Stores, Inc. were up 1.69% to $53.62 in pre-market trading in New York today.