Walmart (NASDAQ: WMT) Beats Q2 FY2027 Expectations Despite Comparable-Sales Slowdown

• Walmart Inc. (NASDAQ: WMT) reported strong Q2 FY2027 results, with adjusted earnings per share of $0.81 and revenue of $187.94 billion, both surpassing analyst estimates.
• The retail giant’s global e-commerce and advertising businesses grew 23% and 38%, respectively, demonstrating continued progress in expanding beyond traditional store-based retail.
• Despite its strong overall results, Walmart shares declined after U.S. comparable-sales growth slowed to 2.6%, below the 3.8% expected by analysts.

Walmart Inc. (NASDAQ: WMT) is a global omnichannel retailer operating supermarkets, discount stores, warehouse clubs, and e-commerce platforms. The company competes with retailers such as Amazon and Costco by offering a broad product assortment at relatively low prices through both physical and digital channels.

On August 20, 2026, Walmart reported results for its second quarter of fiscal 2027, which ended July 31, 2026. The company announced adjusted earnings per share of $0.81, surpassing the consensus estimate of approximately $0.74. GAAP earnings were $0.80 per share, compared with $0.88 in the prior-year quarter.

Walmart generated total revenue of approximately $187.94 billion, exceeding the analyst estimate of approximately $186.62 billion. Revenue increased 5.9% year over year, while operating income climbed 28.8% to approximately $9.38 billion. Adjusted operating income increased 17.4% in constant currency. Walmart’s Q2 FY2027 earnings release

The revenue increase was supported by Walmart’s continued digital expansion. Global e-commerce sales grew 23%, while Walmart U.S. e-commerce sales increased 24% and Sam’s Club U.S. e-commerce sales rose 26%. Store-fulfilled delivery at Walmart U.S. increased 40%, and marketplace net sales grew by more than 50%.

Walmart’s global advertising business grew 38%. Walmart Connect, its U.S. advertising operation, expanded 43% when excluding VIZIO, while Walmart International’s advertising business grew 20%, led by Flipkart Ads. These businesses are helping Walmart diversify its revenue and improve the economics of its broader e-commerce ecosystem. 

Despite the earnings and revenue beats, Walmart shares fell approximately 6% in premarket trading. The decline followed a rare miss in U.S. comparable sales, which increased 2.6% excluding fuel, below the 3.8% expected by analysts. This represented Walmart’s slowest U.S. comparable-sales growth in roughly six years.

The slowdown was partly caused by lower pharmacy revenue resulting from changes in Medicare drug pricing. Excluding health and wellness, Walmart U.S. comparable sales increased 3.4%. Customer transactions still rose 1.5%, indicating that the weaker comparable-sales result was not solely caused by declining customer traffic.

Walmart reported total debt of approximately $57.2 billion and Walmart shareholders’ equity of approximately $98.24 billion at the end of the quarter. Based on these figures, its debt-to-equity ratio was approximately 0.58. Some financial-data providers may report a higher ratio when lease liabilities or broader debt definitions are included.