Walmart’s Q3 Sales Were Weak

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Walmart just announced its Q3 financial results.Click here for LIVE updates >

The big box retailer reported earnings of $1.08 per share, which was slightly better than the $1.07 per share expected by analysts.  This was up from $0.97 in the same quarter a year ago.

Revenue was a bit light, coming in at $113.9 billion versus estimates for $114.9 billion.

U.S. comparable store sales excluding gas climbed 1.7 per cent.  Analysts were looking for a 2.3 per cent gain.

Bloomberg reports that management raised the low end of their earnings guidance range.  They now expect to earn $4.88-$4.93 per share for the full year.  However, the analysts were looking for $4.94 per share.

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