Walmart (WMT) has reported strong Q2 results for 2026, showcasing solid revenue growth across all business segments and a significant 25% surge in global e-commerce sales. The company's performance was driven by its strength in grocery and health & wellness, as well as continued momentum in its advertising and membership businesses. Walmart has raised its full-year outlook for net sales and adjusted earnings per share (EPS), signalling confidence in its strategy and operational execution.
● Total revenue: $177.4 billion, a 4.8% year-over-year increase.
● Global eCommerce sales: Grew 25%, supported by store pickup, delivery, and marketplace sales.
● Global advertising business: Grew 46%.
● Adjusted EPS: $0.68 per share.
● Operating income: Decreased 8.2% to $7.3 billion, affected by discrete legal and restructuring costs.
Walmart’s strong Q2 performance highlights its success in blending a large physical store base with a fast-growing digital platform, turning stores into fulfilment hubs that drive both in-store and e-commerce growth. High-margin segments like advertising and memberships are becoming key profit drivers, supporting margin expansion and diversification beyond traditional retail sales. Analysts remain broadly bullish, with a consensus “Buy” rating and average 12-month price targets in the $75 - $85 range, with some as high as $90. The positive outlook rests on Walmart’s ability to sustain e-commerce momentum, grow its advertising arm, and improve margins through tech-driven efficiencies. Risks include consumer spending slowdowns, intense competition from Amazon and Costco, and operational complexities tied to its global footprint. The company’s resilience in groceries and innovation in high-margin growth areas keep it firmly positioned as a leading player to watch in retail’s ongoing transformation.
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** This article was prepared by BROKSTOCK analyst Maboko Seabi
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