• Wal-Mart Stores – the globe’s biggest retailer – has posted a 21% leap in second-quarter profits.
The group reported net income of $2.44 billion (€2.16bn; £1.52bn), up from $2.02bn in Q2 last year. Sales jumped 11% to $62.64bn, while sales at stores open at least a year increased 3.2%.
The retail titan benefited from strong early summer sales, a recovery at its Sam’s Club warehouse business and healthy growth at its non-US units. Profits at the latter surged 20% to $561 million on revenues of $11.5bn.
However, the group warned that rises in employment and real incomes are required if consumer spending is to continue growing in the second half.
• America’s number two satellite-TV operator EchoStar has posted second-quarter net profits of $129m, well up on the $37m in Q2 last year.
Revenues rose 21% to $1.41bn as EchoStar added 270,000 subscribers during the quarter, taking its total customer base at the end of June to 8.8m.
• Liberty Media – the investment vehicle of American cable pioneer John Malone – has narrowed its second-quarter net losses from $1.2bn last year to $464m.
However, operating profits fell from $13m in Q2 2002 to a $46m loss, as revenues slid from $510m to $500m.
Data sourced from: multiple sources; additional content by WARC staff