Wal-Mart Stores Inc., the world's largest public corporation by revenue, according to the 2007 Fortune Global 500, announced its fourth quarter report.

According the profit report, the Bentonville, Arkansas-based corporation reported a net profit above the figures forecasted by analysts. The boost came on increased holiday discounts and more brands of computers and flat-screen televisions.

The report on a full-year basis will be at most $3.43 a share, the company said in its statement. The net income has climbed 4 percent to $4.1 billion, or $1.02 a share, from $3.94 billion, or 95 cents, during the same period of the past fiscal year. Without taking the one-time items into account, Wal-Mart’s profit was 2 cents higher than estimates.

Wal-Mart’s quarterly sales also rose and in the stores open at least a year outpaced Target Corp. for the first time in 3 1/2 years.

The main reasons which drew customers to Wal-Mart were the expansion of consumer electronics section as well as more discounts in the groceries department after the company shifted too far into more-fashionable clothing.

The colossal retailer also said in its statement that it expects its earnings for the current quarter to come in between 70 to 74 cents a share. The range forecasted by Wal-Mart is below the earnings per share of 74 cents for the period that analysts predicted.

Wal-Mart said its full year earnings are expected to be between $3.30 and $3.43 a share. The largest grocery retailer in the United States, with an estimated 20% of the retail grocery and consumables business is forecasting full-year earnings of $3.30 to $3.55 a share.

Wal_Mart’s fourth-quarter net sales were also on the rise. The largest toy seller in the U.S. has reported sales grew 8.3% to $106.3 billion, up from $98.1 billion in the same quarter last year.

It is the first time a retailer tops $100 billion in a single quarter.