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Oct 31, 2025
Walmart Q3 2026 Earnings Report
Walmart reported solid third-quarter performance with strong eCommerce growth and raised guidance for FY26.
Key Takeaways
Walmart posted $179.5 billion in revenue and continued expanding its global eCommerce and advertising operations. Adjusted EPS came in at $0.62, and the company increased its FY26 outlook.
Walmart U.S. delivered $120.7B in sales with 28% eCommerce growth.
Walmart International grew 11.4% in constant currency, driven by Flipkart, China, and Walmex.
Sam’s Club posted $23.6B in revenue, with 22% eCommerce growth and rising membership income.
Gross profit reached $33.3B (+5.8%) and operating income held steady at $6.7B despite one-time compensation expenses.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Walmart raised its full-year FY26 guidance, citing continued strength in eCommerce, advertising, and membership income.
Positive Outlook
- Raised FY26 net sales outlook to 4.8%–5.1% growth in constant currency.
- Adjusted operating income expected to grow 4.8%–5.5%.
- U.S. eCommerce momentum sustained with 28% growth.
- Strong advertising performance globally and in the U.S.
- Membership income driving additional revenue diversification.
Challenges Ahead
- GAAP operating income fell 0.2% due to $0.7B non-cash charge from PhonePe.
- ROI decreased to 14.8% due to higher invested capital.
- International gross margin pressured by format mix and Flipkart timing.
- Higher claims expenses and depreciation affected expense ratios.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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