Wal-Mart tops Street 4Q forecasts

Wal-Mart Stores Inc. on Tuesday reported fiscal fourth-quarter earnings of $3.76 billion.

On a per-share basis, the Bentonville, Arkansas-based company said it had net income of $1.22. Earnings, adjusted for severance costs, came to $1.30 per share.

The results topped Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $1.29 per share.

The world's largest retailer posted revenue of $130.94 billion in the period, which also beat Street forecasts. Eight analysts surveyed by Zacks expected $130.55 billion.

Wal-Mart expects full-year earnings to be $4.20 to $4.40 per share.

Wal-Mart shares have climbed slightly since the beginning of the year, while the Standard & Poor's 500 index has risen 5 percent. The stock has climbed 8 percent in the last 12 months.

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