Wal-Mart beats profit target

NEW YORK (MarketWatch)
Wal-Mart Stores Inc. said Thursday its first-quarter profit increased 10% to $3.74 billion, or $1.09 a share, from $3.4 billion, or 97 cents a share, in the year-ago period
Total revenue at the Bentonville, Ark., mass market retailer rose 8.5% to $113 billion
Sales increased 8.6% to $112.3 billion
Wall Street analysts expected Wal-Mart to earn $1.04 a share on sales of $110.5 billion, according to a survey by FactSet Research
Wal-Mart said it expects second-quarter profit of $1.13 to $1.19 a share, compared to the Wall Street estimate of $1.16 a share