Wal-Mart's rise in net income shy of estimates

8/17/2012

NEW YORK -- Wal-Mart Stores Inc. reported a 5.7 percent increase in second-quarter net income and raised its outlook for the full year as it woos back frugal shoppers by re-emphasizing it has the lowest prices on everything from clothes to electronics.

But Wal-Mart's total revenue came in short of Wall Street estimates.

Investors, who had sent the stock up 25 percent since mid-May, pushed shares down more than 3 percent to $72.15.