The world's biggest retailer Wal-Mart has posted a quarterly net profit of $2.65 billion, despite a sluggish performance in the US.
In the three months to the end of September, stronger international sales helped push Walmart's net profit up 11.5%, compared to the same period a year before.
Total revenues rose 12% to $83.5 billion over the three months, with price cuts helping Wal-Mart's US sales.
Wal-Mart CEO Lee Scott said although sales in the US were softer than hoped for, there were opportunities in the final quarter to build on the aggressive pricing strategy the company has implemented for the holiday season.
Wal-Mart said in July that it was pulling out of Germany after eight years, and would sell its 85 hypermarkets to the Metro chain. Wal-Mart also announced in the second quarter that it was selling its 16 stores in South Korea, while maintaining its presence in Japan through its struggling subsidiary Seiyu.
However, Wal-Mart's overseas sales surged 33.7% in the third quarter to $19.12 billion, while sales at home were up 7.8% to $54.18 billion.
The company blamed higher fuel costs for contributing to its sluggish US performance, with lower-income customers in particular hurt by months of high petrol prices.
