Subscribe Register Login

Sunday, April 20, 2014, 11:13 a.m.
Top Picks - Arkansas Daily Deal

Wal-Mart posts 8.6% profit rise in 4th quarter

By Katie Doherty

This article was published February 21, 2013 at 6:45 a.m.

Wal-Mart Stores Inc. said Thursday that it earned a fourth-quarter profit of $5.61 billion, an 8.6 percent increase over the $5.16 billion earned a year earlier.

Earnings per share for the fourth quarter were $1.67, up from $1.50 a year earlier, the Bentonville-based retailer said in a statement. This topped the $1.57 average estimate of 22 analysts surveyed by Bloomberg News.

Total fourth-quarter revenue was was $127.9 billion, a 3.9 percent increase from the previous year.

“Walmart topped off a really good year with a solid fourth quarter, and I’m proud of what we accomplished as a team,” Mike Duke, Wal-Mart’s president and chief executive officer, said in the statement.

Meanwhile, Wal-Mart’s board of directors approved an annual cash dividend for fiscal year 2014 of $1.88 per share, an increase of about 18 percent from the $1.59 paid in fiscal 2013.

But Executive Vice President and Chief Financial Officer Charles Holley projected that earnings per share in the current quarter will fall between $1.11 and $1.16 after a fiscal 2013 first-quarter earnings per share of $1.09. This trailed analysts’ average estimate of $1.19, according to 18 surveyed by Bloomberg News.

The less rosy forecast comes as Wal-Mart aims to keep prices low after a payroll-tax break expired Dec. 31, causing Americans to pay 2 percentage points more in Social Security taxes.

Information for this article was contributed by Bloomberg News.

Comments on: Wal-Mart posts 8.6% profit rise in 4th quarter

To report abuse or misuse of this area please hit the "Suggest Removal" link in the comment to alert our online managers. Read our Terms of Use policy.

Subscribe Register Login

You must login to make comments.

TOP JOBS

  • Director of plant op

    director of plant operations-Clarity Pointe Little Rock is a...
    LITTLE ROCK, AR

  • Generallaborers

    general laborers: Highway Striping Company seeks full-time g...
    BRYANT, AR

  • Teachers

    england school district is accepting applications for the fo...
    England, AR

  • Student engagement s

    pecialistlyon College seeks a Student Engagement Specialist ...
    BATESVILLE, AR

  • Comm superintendent

    WantedTraveling PositionSalary + Benefits Resume to:jsummer...
    ALEXANDER, AR

Search 1040 jobs >

Top Picks - Arkansas Daily Deal
Arkansas Online