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Walmart makes AED $1.75bn in net profits Q3

Walmart makes AED $1.75bn in net profits Q3
Walmart’s revenues jumped 4.2% year-on-year

Mubasher: US-based Walmart Stores Incorporation on Thursday reported net profits of $1.75 billion in the third quarter of the fiscal year 2017/2018, compared to AED 3.03 billion in the year-ago period.

Despite the profit decline, Walmart’s revenues jumped 4.2% year-on-year to $123.18 billion in Q3-17/18, according to a company statement.

Walmart’s sales in the US rose 2.7%, compared to an expected rate of 1.7%, the company added. 

Earnings per share (EPS) grew to $1, in comparison with the forecasted $0.97.