Walmart, the world’s biggest retailer, has posted solid third quarter earnings after a long awaited turnaround in its key domestic US market.

Net income was $US3.71 billion ($A4.01 billion) in the quarter that ended October 31, down 0.7 per cent from a year ago.

Earnings of $US1.15 per share were up 0.9 per cent from a year ago, well above the Wall Street consensus of $US1.12.

Total revenue surged nearly three per cent higher to $US119.0 billion

Net sales in the US market rose 3.4 per cent to $US70 billion.

US comparable sales, sales in stores open a year ago, rose 0.5 per cent, the first increase in seven quarters.

Walmart tightened its full year earnings forecast to earnings per share between $US4.92 and $US5.02, from its previous outlook of between $US4.90 and $US5.15, due in part to the planned closure of underperforming stores in Japan.

AFP