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Wal-Mart posts higher than expected Q2 profits

The world's largest retailer Wal-Mart has higher than expected $3.44 billion second quarter earnings. The figures were steady compared to the same time last year.

The Arkansas-based Wal-Mart Stores reported earnings of £3.449 billion in the same period in 2008, the company said in a statement.

For the second quarter of fiscal year 2010, the company reported earnings per share of $0.88, on the high side of the company's guidance of $0.83-0.88.

The retail giant reported profits of $0.86 per share from continuing operations in the second quarter last year.