Wal-Mart has announced better-than-expected quarterly profits of $2.85 billion despite a persistent US housing downturn.
The retail giant said its third quarter net income swelled by 7.9% compared with the same time last year.
Its earnings per share for the quarter ended October 31 increased to 70 cents from 63 cents per share last year.
Most Wall Street analysts had only expected Wal-Mart to post earnings per share of 67 cents.
Some economists have feared that America's housing slump could impact consumer spending, a vital driver of economic growth, but Wal-Mart's latest results showed little evidence that housing woes are denting its profit growth.
'Our results for the third quarter reflect the improved performance of our US operations,' said Wal-Mart's president and chief executive officer Lee Scott.
Scott said the retailer had succeeded in boosting profits faster than sales during the period and voiced optimism that Wal-Mart would benefit from a 'successful fourth quarter.'
The company's overall revenues grew 8.8% to $90.88 billion.
