Walmart reports Q2 revenue up 5.9%, eCommerce up 23%, raises full-year guidance

Walmart announced it will release second quarter fiscal 2027 earnings results covering the three and six months ended July 31, 2026. The company is furnishing a press release and financial presentation to disclose operating results, cash flows, and financial condition as of that date. The actual financial metrics are contained in the referenced exhibits, not in the 8-K body itself.

Walmart reported second quarter fiscal 2027 total revenue of $187.9 billion, up 5.9% year-over-year (5.1% in constant currency). Global eCommerce sales grew 23%, driven by store-fulfilled pickup and delivery and marketplace expansion. Walmart U.S. comparable sales grew 2.6%, with eCommerce contributing approximately 510 basis points to that comp growth.

Operating income increased $2.1 billion or 28.8% on a reported basis, and 17.4% on an adjusted constant-currency basis. The company received tariff refunds during the quarter which boosted gross margin by 96 basis points, though these were partially offset by price investments. GAAP diluted EPS was $0.80; adjusted EPS was $0.81, excluding net losses on equity investments and a tax benefit.

Walmart's global advertising business grew 38% in the quarter, with Walmart U.S. advertising also up 38%. This includes a 43% increase in Walmart Connect (excluding VIZIO). The advertising business is recorded either in net sales or as a reduction to cost of sales depending on the arrangement nature.

Year-to-date through July 31, 2026, Walmart repurchased 42.3 million shares for $5.1 billion. The company has $25.1 billion remaining under the $30 billion share repurchase authorization approved in February 2026, demonstrating continued capital return to shareholders.

Walmart reported Q2 FY27 total revenues of $186.4 billion (constant currency), up 5.1%, with net sales up 5.0% (cc) driven by strength across all segments and 23% global eCommerce growth. Adjusted operating income (cc) increased 17.4% to $9.2 billion, reflecting strong sales growth, higher gross margins including tariff refund benefits, and global membership growth, partially offset by expense deleverage. Adjusted EPS rose 19.1% to $0.81, excluding a net loss of $0.12 on equity investments and a net benefit of $0.11 from a certain tax matter.

Walmart U.S. net sales grew 3.5% to $125.2 billion with eCommerce up 24%, driven by 43% growth in store-fulfilled delivery, 38% total advertising growth (Walmart Connect +43%), and 52% Marketplace sales growth. Comp sales increased 2.6%, partially offset by a ~125 bps pharmacy headwind from maximum fair price regulation. Membership & other income rose 15.6% with Walmart+ fee revenue up double-digits and record Q2 net adds. Operating income increased 20.6% to $8.1 billion, reflecting tariff refund benefits and improved eCommerce economics.

Walmart returned $5.0 billion to shareholders in Q2 FY27, comprising $2.0 billion in dividends and $3.0 billion in share repurchases (25.7 million shares at an average price of $117.61 per share). The company has $25.1 billion remaining under its share repurchase authorization.