Wal-Mart earnings miss mark

BENTONVILLE, Ark. — Wal-Mart reported revenues of $114.88 billion, falling short of the $116.23 billion estimated, while revenues rose 2.7% from last year excluding the foreign currency effect. Same-store sales were up 1.1%, as opposed to prior guidance of 1% – 2%, and the estimates for 1.5%. The world’s largest retailer said it expects earnings per share of between $1.06 and $1.18 in the second quarter.