Retail king Wal-Mart (WMT: 54.07, n.a., n.a.%) posted a 22% fourth-quarter increase in profits on Thursday but Wall Street fretted about the discounter’s revenue and guidance for the current quarter.
The world’s largest retailer said it earned $4.63 billion, or $1.21 a share, last quarter, compared with a profit of $3.79 billion, or 96 cents a share,a year ago. Excluding one-time items, it earned $1.17 a share, topping the Street’s view of $1.12.
However, its revenue fell by 4.5% to $113.65 billion, missing consensus calls for $114.36 billion.
Full story: Wal-Mart Profit Rises But Forecast is Light; Shares Slip via FOXBusiness.com