Wal-Mart Stores has posted higher quarterly profit as strength in its international business and new store openings helped offset disappointing US sales.
The world's biggest retailer said net income rose to $2.65 billion, or 63 cents per share, in the third quarter that ended on October 31, from $2.37 billion, or 57 cents per share, a year earlier.
Results in the latest period include a one-cent-per-share gain related to property insurance.
Wal-Mart said on October 5th that profit would probably be in the range of 59 cents to 63 cents.
Wal-Mart posted lacklustre sales growth at its US stores open at least a year, hurt by disruptions from store remodelling efforts and a poor reception for its trendier clothing.
Shares of the company are roughly flat year-to-date and trade at 14.4 times analysts' profit forecasts for next year, compared with a multiple of 16.3 for smaller rival Target.