Wal-mart posted earnings today, Thursday February 18th for the fourth quarter of fiscal year 2010. They beat the street estimates of 1.12 with a reported earnings per share of 1.23$ and adjusted earnings of 1.17. For FY 2010, Wal-marts estimates were 3.57-3.61$ and posted earnings per share of 3.72$ and adjusted earnings per share of 3.66, which beat their own estimates. Profit's increased 22% from the preceding year. 2010 profits were 4.63$ billion, compared to last years profits of 3.79$ billion.
Net sales for 2010 were more than $405 billion, with international net sales exceeding $100 billion for the first time in Wal-Mart history. International segments are performing better then expected and are really hurdling over obstacles. However, U.S same store sales fell 1.6% which discouraged investors and shares fell to 53.20$ premarket.
Overall, Wal-mart had a great fourth quarter. Fourth quarter operating income was $7.3 billion up 13.8% or $881 million from last year.
Going forward into the first quarter of the 2011 fiscal year, they forecasts earnings per share from continuing operations to be .81-.85$