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Wal-Mart 3Q breaks record
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November 10, 1998: 8:46 a.m. ET
Another billion-dollar profit beats Street forecast as sales reach all-time high
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NEW YORK (CNNfn) - Retail behemoth Wal-Mart Stores Inc. reported another record-breaking quarter Tuesday, with sales climbing 17 percent and profit again topping $1 billion.
In the three months ended Oct. 31, Wal-Mart posted earnings of $1.01 billion, or 45 cents per share, a 27-percent improvement over the year-ago period's $792 million, or 35 cents per share.
The results marked the company's second consecutive quarter of posting more than a billion dollars in earnings.
Analysts polled by estimate tracking firm First Call Corp. had predicted earnings of 43 cents per share.
Sales rose to a record $33.5 billion from $28.7 billion a year ago, led by 8.5-percent growth in same-store sales.
Going into the key holiday quarter, Wal-Mart is confident of meeting profit expectations.
David Glass, president and CEO, noted that the company's enthusiasm would be tempered "purely because we will face more difficult comparisons resulting from last year's solid performance."
In the year to date, the company has earned $2.87 billion, or $1.28 per e, on revenue of $96.84 billion. A year ago, earnings were $2.23 billion, or 99 cents per share, on revenue of $82.57 billion.
On Monday, Wal-Mart shares (WMT) closed down 7/8 at 70-9/16. 
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Wal - Mart
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