Walmart profits fall on higher sales

BENTONVILLE, Ark. — Walmart reported higher sales than expected in Q4, as its efforts to ramp up its online channel and make over its stores paid off, but profits still plunged 42.1%. The payment of bonuses and restructuring costs contributed to the decline. Earnings of $2.17 billion, or $0.73 per share, fell short of analyst expectations of $1.36 per share and represented a decline from $3.76 billion ($1.22) a year ago. Revenues for the quarter totalled $136.27 billion.