NEW YORK (AP) — THE RESULTS: Wal-Mart Stores Inc. reported a 5.7 percent increase in second-quarter net income, boosted by solid sales at its U.S. stores and abroad.
BEHIND THE FIGURES: Wal-Mart's return to "everyday low prices" is winning over shoppers, but the tough economy is still proving to be a challenge for its low-income customers. Its total revenue was below Wall Street expectations, and it's scaling back its expansion plans in three markets — China, Brazil and Mexico.
THE OUTLOOK: Wal-Mart raised its full-year net income estimate. For the full year, the company now forecasts earnings per share to be in the range of $4.83 to $4.93. That is up from Wal-Mart's original forecast of $4.72 to $4.92 per share.