Walmart reports revenue growth of 5.9%, up 5.1% in constant currency (cc)

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Key Terms

constant currency financial

Constant currency is a way of measuring financial results that removes the effects of changes in currency exchange rates. It allows for a clearer comparison of a company's performance over time by showing what the numbers would look like if exchange rates had stayed the same. This helps investors understand whether growth comes from actual business improvements or just currency fluctuations.

gaap eps financial

GAAP EPS is the profit per share a company reports using U.S. Generally Accepted Accounting Principles, the standard rules for preparing financial statements. It shows how much net income is attributable to each share after recognized costs like operating expenses, taxes and long-term cost allocations, much like a household reporting its monthly savings after following a fixed budgeting checklist. Investors rely on GAAP EPS to compare profitability consistently across companies and reporting periods.

adjusted eps financial

Adjusted earnings per share (adjusted eps) is a measure of a company's profit per share that has been modified to exclude certain one-time or unusual items, such as costs from restructuring or asset sales. It provides a clearer picture of the company’s core performance by removing events that may distort the usual earnings. Investors use adjusted eps to better understand a company's ongoing profitability and compare it more accurately over time.

bps financial

bps stands for "basis points," a unit equal to one hundredth of a percentage point (0.01%). Investors and analysts use bps to describe small changes in interest rates, yields, fees, or margins without confusing decimals — for example, a 50 bps move means a 0.50% change. Using bps makes it easier to compare and communicate tiny but meaningful shifts that can significantly affect bond prices, loan costs, or investment returns.

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08/20/2026 - 07:01 AM

Operating income growth of 28.8%, up 17.4% adjusted (cc)

eCommerce sales up 23% globally

GAAP EPS of $0.80; Adjusted EPS of $0.81

Company issues guidance for Q3; reiterates outlook for FY27

BENTONVILLE, Ark.--(BUSINESS WIRE)-- Walmart Inc. (Nasdaq: WMT):

Second Quarter Highlights:

Revenue of $187.9 billion, up 5.9%, or 5.1% (cc)
Global eCommerce sales grew 23%, led by store-fulfilled pickup & delivery and marketplace
Global advertising business up 38%, with strength across segments. Walmart U.S. advertising up 38%
Membership fee revenue grew 17% globally
Gross profit rate up 96 bps, led by Walmart U.S., primarily impacted by tariff refund impacts noted below
Operating income up $2.1 billion, or 28.8% up 17.4% adjusted (cc); which includes the impact of tariff refunds received, partially offset by price investments in the quarter. Setting aside this net impact, underlying operating income growth was at the top end of our guidance. Our outlook reflects the continued prioritization of remaining tariff refunds into price investments
Adjusted EPS of $0.81 excludes the impact, net of tax, from a net loss of $0.12 on equity and other investments, and net benefit of $0.11 from a certain tax matter
ROA at 8.0%; ROI at 15.4%
Global inventory up 6.7%; up 6.0% (cc), due to strategic initiatives and inflation

The company will hold a live conference call with the Investment Community at 7 a.m. CDT Thursday, August 20, 2026, to discuss the company’s second quarter earnings results for fiscal year 2027. The event will be webcast live and is accessible by visiting https://corporate.walmart.com/news/events and selecting the Second Quarter Earnings Release event. The webcast will be archived and available on the company website.

About Walmart

Walmart Inc. (Nasdaq: WMT) is a people-led, tech-powered omnichannel retailer helping people save money and live better - anytime and anywhere - in stores, online, and through their mobile devices. Each week, approximately 280 million customers and members visit more than 10,900 stores and numerous eCommerce websites in 19 countries. With fiscal year 2026 revenue of $713 billion, Walmart employs approximately 2.1 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy, and employment opportunity. Additional information about Walmart can be found by visiting corporate.walmart.com, on Facebook at facebook.com/walmart, on X at x.com/walmart, and on LinkedIn at linkedin.com/company/walmart.