"You’re making the difference and our growth this quarter shows that."
Doug McMillon
President and CEO, Walmart
Q2 FY26 Earnings Results
Aug. 21, 2025
Message from Doug
Walmart Inc.
Total revenues for the quarter were $177.4B.
Walmart U.S.
Comp sales grew 4.6%, excluding fuel. eCommerce grew 26% YoY, driving comp sales.
Walmart International
Net sales grew 10.5% (constant currency¹).
Sam's Club
Comp sales grew 5.9%², excluding fuel.
Global Advertising³
Grew 46% including VIZIO; Walmart Connect up 31% in the U.S.
Global eCommerce
Sales grew 25%, led by store-fulfilled pickup & delivery and marketplace.
1Constant Currency is a non-GAAP measure. For additional information regarding non-GAAP financial measures, click here.
2Comp sales for the 13-week period ended Aug. 1, 2025, compared to the 13-week period ended July 26, 2024, and excludes fuel. See press release for additional information.
3Our global advertising business is recorded either in net sales or as a reduction to cost of sales, depending on the nature of the advertising arrangement.
Message from John David Rainey, Chief Financial Officer
Rewiring how we work
Equipped with next-gen tech, associates are speeding up deliveries, keeping shelves stocked and helping customers faster than ever.
Making the grade
From first-day fashion to pencils and lunch prep, we helped families head back to class styled and supplied.
Growing American-made
This year’s Open Call welcomed more shelf-ready products and bold ideas to strengthen U.S. manufacturing.
Raising the standard
96% of Member’s Mark™ products now meet our 'Made Without' standards, helping associates deliver quality members can count on.
