Wal-Mart posts flat 2Q profit; boosts outlook - WAOW - Newsline 9, Wausau News, Weather, Sports

Wal-Mart posts flat 2Q profit; boosts outlook

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NEW YORK (AP) -- Wal-Mart Stores Inc. is reporting second-quarter profit virtually unchanged from a year ago, but results beat Wall Street expectations.

The world's largest retailer says it is boosting its profit outlook as it benefits from a series of cost-cutting moves and draws frugal shoppers away from rivals.

Wal-Mart says Thursday it earned $3.44 billion, or 88 cents per share, in the quarter. That compares with $3.44 billion, or 87 cents per share, in the year-ago period.

Revenue fell 1.4 percent to $100.08 billion. Analysts projected earnings per share of 85 cents on revenue of $102.9 billion.

Online Reporter: Kelsi Schindler

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