Walmart (WMT) Q3 2026 earnings

Walmart Raises Sales and Earnings Outlook Amid Double-Digit E-Commerce Growth

Walmart, the retail giant, has raised its sales and earnings outlook for the year, driven by a significant increase in e-commerce sales and the acquisition of new customers across various income levels. The company’s fiscal third-quarter results showed revenue gains, with e-commerce sales growing by 27% globally, and a 28% increase in the US. This growth was fueled by the expansion of store-fulfilled delivery of online orders and the growth of advertising and its third-party marketplace.

Key Highlights of Walmart’s Fiscal Third-Quarter Results

The company reported earnings per share of 62 cents, exceeding the expected 60 cents, and revenue of $179.50 billion, surpassing the estimated $177.43 billion. Walmart’s US comparable sales, excluding fuel, rose 4.5%, beating analysts’ expectations of 4% growth. The company’s global advertising business increased by 53%, including a 33% growth in its US advertising business, Walmart Connect.

Walmart’s success can be attributed to its ability to attract value-seeking customers across incomes, both due to the economic backdrop and its strategic moves. The company has gained market share across incomes, with a more pronounced growth in the upper-income segment. Walmart’s expedited delivery service, which allows customers to receive their orders in under three hours, has been particularly popular, with revenue related to these deliveries increasing by 70% year over year.

Leadership Change and Future Outlook

Walmart’s earnings report comes after the company announced a leadership change, with John Furner set to succeed Doug McMillon as CEO on February 1. The company’s CFO, John David Rainey, expressed optimism about the holiday season, stating that Walmart is “going into the holiday pretty optimistic” with competitive price points. Rainey also mentioned that the company has been able to reduce the impact of higher tariff costs on customers by finding ways to absorb some costs.

Walmart’s results contrast with those of other retailers, such as Target, Home Depot, and Lowe’s, which lowered their full-year profit outlooks due to cautious consumer spending. However, TJX, the parent company of T.J. Maxx and Marshalls, raised its full-year forecast, citing a strong start to the holiday season and its ability to cater to value-conscious shoppers. As the retail landscape continues to evolve, Walmart’s ability to adapt to changing consumer habits and preferences will be crucial to its success.