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Jul 31
Walmart Q2 2026 Earnings Report
Walmart delivered strong revenue growth and significant eCommerce gains in Q2 FY26 despite lower operating income.
Key Takeaways
Walmart reported $177.4B in revenue with 25% global eCommerce growth. EPS rose to $0.88, while adjusted EPS came in at $0.68. Operating income declined due to legal and restructuring charges.
Revenue reached $177.4B, up 4.8% YoY.
Global eCommerce sales increased 25%, led by store-fulfilled delivery and marketplace.
Walmart Connect ad business in the U.S. grew 31%.
Net income attributable to Walmart surged to $7.03B, up 56.1%.
Walmart
Walmart
Walmart Revenue by Segment
Walmart Revenue by Geographic Location
Revenue by Segment
Walmart U.S. Revenue
CapyFin.comWalmart International Revenue
CapyFin.comSam’s Club Revenue
CapyFin.comMembership & Other Revenue
CapyFin.comRevenue by Geographic Location
U.S. Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
Walmart raised its FY26 net sales and EPS guidance while maintaining adjusted operating income targets.
Positive Outlook
- Net sales expected to grow 3.75% to 4.75% in FY26.
- Q3 EPS forecasted at $0.58 to $0.60.
- Global eCommerce momentum expected to continue.
- Strong performance in U.S. grocery and health categories.
- Walmart Connect and Flipkart ads showing robust growth.
Challenges Ahead
- Higher general liability claims continue to pressure operating income.
- Currency headwinds expected to impact FY26 EPS by $0.02 to $0.03.
- Legal and restructuring charges affected Q2 results.
- Operating expense deleverage in some segments.
- Acquisition of VIZIO adds complexity to year-over-year comps.
Revenue & Expenses
Visualization of income flow from segment revenue to net income