Walmart Inc. reported fiscal third‑quarter 2026 results that exceeded expectations, with revenue rising 5.8% year‑over‑year to $179.5 billion and adjusted earnings per share of $0.62, beating the consensus estimate of $0.60 by $0.02. The revenue beat was driven by a 27% jump in global e‑commerce sales, a 53% increase in advertising revenue, and a 9% rise in membership and other income. The company’s U.S. net sales totaled $120.7 billion, while Sam’s Club contributed $23.6 billion, underscoring the strength of its omnichannel footprint.
The earnings beat was underpinned by disciplined cost management and a favorable mix shift toward higher‑margin e‑commerce and advertising. Gross margin improved by two basis points, reflecting successful pricing power in the online channel and efficient inventory handling. The 9% membership income growth, while modest compared to the 16.7% figure reported for the broader category, still represents a solid contribution to the company’s higher‑margin revenue streams.
Walmart raised its full‑year guidance, projecting net sales growth of 4.8%‑5.1% versus the prior 3.75%‑4.75% range, and adjusted operating income growth of 4.8%‑5.5% versus the previous 4.0%‑5.0% range. Adjusted EPS for the year is now forecast at $2.58‑$2.63, up from $2.52‑$2.62. The upward revision signals management’s confidence in sustaining momentum through the holiday season and beyond, driven by continued e‑commerce expansion and advertising momentum.
The company also announced a move of its common stock to the Nasdaq Global Select Market on December 9, 2025, while retaining the WMT ticker. The transition reflects Walmart’s “technology‑forward” strategy and aims to align the retailer with high‑growth tech peers, potentially enhancing liquidity and signaling a deeper commitment to digital transformation.
Doug McMillon, President and CEO, said the quarter “delivered another strong performance across the business, with e‑commerce as a bright spot and continued progress in delivery speed and inventory management.” Chief Financial Officer John David Rainey added that the Nasdaq move “aligns with our people‑led, tech‑powered approach to long‑term strategy” and that the raised guidance “reflects confidence in our ability to scale high‑margin digital businesses while maintaining cost discipline.”
Investors responded positively to the results, with analysts noting the company’s ability to generate higher‑margin revenue streams and its confidence in the holiday season. The Nasdaq listing move was also viewed as a strategic signal of Walmart’s commitment to technology and innovation.
While the company faced headwinds such as pullbacks from lower‑income consumers amid a pause in SNAP funding, it benefited from tailwinds including strong demand for essentials and continued value proposition appeal. The company’s leadership transition, with John Furner set to become CEO in February 2026, is proceeding amid a period of robust performance, suggesting a stable handover.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.