Wal-Mart beats Q2 expectations

BENTONVILLE, Ark. — Wal-Mart saw sales at established stores rise for the eighth quarter in a row, driving earnings up to $1.07 per share excluding a non-cash gain from the sale of its e-retail business in China/ Analysts had estimated earnings of $1.02 per share. Sales at U.S. stores open at least a year were up 1.6%, a stronger showing than the 1% forecast. Revenues totalled $120.9 billion, also higher than the expected $120.1 billion. Sales in the competitive e-retail channel rose 11.8% on the strength of a 1.3% hike in gross merchandise volume.