Walmart's results show rebounding US business

Shoppers wheel their purchases out of a Wal-Mart store in Los Angeles, Calif. before dawn on Black Friday, Nov. 27, 2009. OBYN BECK/AFP/Getty Images

NEW YORK - Walmart Stores Inc. (WMT) reported an almost 15 percent decline in fourth-quarter profits as the world's largest retailer's U.S. namesake business continued to rebound over the critical holidays.

The discounter says net income was $5.16 billion, or $1.50 per share in the three months ended Jan. 31. That compares with $6.05 billion, or $1.70 per share, in the year ago period.

Including results from certain tax benefits, the retail recorded $1.51 per share for the quarter.

Net sales rose 5.9 percent to $122.28 billion.

The company's namesake business had a 1.5 percent increase in revenue at stores opened at least a year, its second consecutive quarterly gain after facing a more than two-year slump.

Analysts were expecting earnings per share of $1.46 on revenue of $123.9 billion.

Comments

Watch CBSN Live

Watch CBS News anytime, anywhere with the new 24/7 digital news network. Stream CBSN live or on demand for FREE on your TV, computer, tablet, or smartphone.

Watch Now

New Android App

For your Android phone and tablet, download the FREE redesigned app, featuring CBSN, live 24/7 news.

Download
The all new
CBS News App for Android® for iPad® for iPhone®
Fully redesigned. Featuring CBSN, 24/7 live news. Get the App