UPDATE: Family Dollar Reports Downbeat Q3 Profit; Shares Drop In Pre-Market

Family Dollar Stores Inc FDO reported a 6.5% rise in its third-quarter net income on Wednesday. Family Dollar's quarterly net income surged to $111.1 million, or $0.91 per share, from $104.4 million, or $0.77 per share, in the year-earlier period. The retailer's revenue climbed 7.8% to $2.15 billion. However, analysts were expecting earnings of $0.95 per share on revenue of $2.17 billion. Family Dollar projects Q4 earnings of $0.62 to $0.70 per share, versus analysts' estimates of $0.65 per share. Family Dollar shares dropped 1.08% to $52.45 in pre-market trading. Read more from Benzinga's Company news.