UPDATE: Wal-Mart Reports 5.7% Rise In FQ2 Net Income

Wal-Mart Stores Inc WMT reported a 5.7% rise in its fiscal second-quarter net income. Wal-Mart's net income surged to $3.8 billion from $3.6 billion. Its earnings per share rose to $1.09 from $0.97. Its net sales rose 5.5% to $108.64 billion. However, analysts were expecting earnings of $1.08 per share on revenue of $108.1 billion. Wal-Mart reported a 0.9% decline in its US discount stores open at least a year during its second quarter. Wal-Mart shares gained 0.48% to $50.22 in pre-market trading.