UPDATE: Wal-Mart Reports Upbeat Q1 Earnings

Wal-Mart Stores Inc WMT released its results for the fiscal first-quarter on Tuesday. The retailer reported its quarterly profit at $3.4 billion, or $0.97 per share, up from $3.3 billion, or $0.87 per share, in the year-ago period. The retailer's sales increased 4.4% to $103.4 billion, while its membership and other income surged 8.4% to $774 million. However, analysts were expecting earnings of $0.94 per share on sales of $102.8 billion. The retailer projects its Q2 earnings of $1.05 to $1.10 per share, versus analysts' estimates of $1.08 per share. WMT shares gained 0.18% to $56.16 in pre-market trading. Read more from Benzinga's Company news.