Wal-Mart earning up amid concern about fuel costs

(May 13, 2004) — (Bentonville-AP) -- Wal-Mart Stores Incorporated announced today that its first-quarter earnings climbed 16 percent from a year earlier, beating Wall Street expectations. Its chief executive expressed optimism about the economy but said he is concerned about gasoline prices that continue to rise. Wal-Mart earned two-point-two billion dollars, or 50 cents per share, for the period ending April 30th. That's compared to one-point-eight billion dollars, or 41 cents per share, a year earlier. The results were a penny a share higher than forecast by analysts surveyed by Thomson First Call.