Q3 25 EPS
$0.58
BEAT +8.84%
Est. $0.53
Q3 25 Revenue
$169.59B
BEAT +1.78%
Est. $166.62B
vs S&P Since Q3 25
+31.0%
BEATING MARKET
WMT +53.1% vs S&P +22.1%
Market Reaction
Did WMT Beat Earnings? Q3 2025 Results
Walmart delivered a strong fiscal third quarter, posting adjusted earnings of $0.58 per share against a consensus estimate of $0.53, an 8.84% beat, while revenue of $169.59 billion grew 5.5% year over year and edged past forecasts by 1.78%. The headl… Read more Walmart delivered a strong fiscal third quarter, posting adjusted earnings of $0.58 per share against a consensus estimate of $0.53, an 8.84% beat, while revenue of $169.59 billion grew 5.5% year over year and edged past forecasts by 1.78%. The headline driver was broad operational momentum, with global eCommerce sales climbing 27% and operating income rising 8.2% to $6.71 billion, reflecting improved gross margins and growing membership income. Walmart U.S. Comparable sales grew 5.3%, fueled by transaction count gains and a four-year high in food unit volumes, while Sam's Club delivered 7.0% comp growth alongside a 15.1% surge in membership income. The results stand in sharp contrast to peers struggling with cautious consumers, as Walmart continued to attract upper-income households trading into its stores. Encouraged by the momentum, management raised its full-year adjusted EPS guidance to $2.42 to $2.47 and lifted its constant currency net sales growth outlook to 4.8% to 5.1%, signaling continued confidence heading into the critical holiday quarter.
Key Takeaways
- • Global eCommerce sales grew 27%, led by store-fulfilled pickup and delivery and marketplace
- • Walmart U.S. comp sales up 5.3% excluding fuel, driven by transaction counts and unit volumes
- • Share gains across income cohorts, led by upper-income households
- • Global advertising business grew 28%, including Walmart Connect up 26% in the U.S.
- • Net delivery cost per order decreased ~40% for the third consecutive quarter
- • Membership income grew 22% globally
- • Positive growth in general merchandise for Walmart U.S.
- • GLP-1 drug sales contributed approximately 100bps to Walmart U.S. segment comp
- • Flipkart Big Billion Days timing shift benefited Q3 International growth
- • Improved eCommerce margins and reduced eCommerce losses across segments
- • Food units at Walmart U.S. reached highest level in four years
- • Sam's Club comp sales up 7.0% excluding fuel with transactions up 6.4%
WMT YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
WMT Revenue by Segment
With YoY comparisons, source: SEC Filings
WMT Revenue by Geography
Regional revenue distribution
“We had a strong quarter, continuing our momentum. Our associates are working hard to save people time and money and to transform our business. In the U.S., in-store volumes grew, pickup from store grew faster, and delivery from store grew even faster than that. Our teams are executing and delighting our customers and members with the value and convenience they expect from Walmart.”
— Doug McMillon, Q3 2025 Earnings Press Release
WMT Earnings Trends
WMT vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
WMT EPS Trend
Earnings per share: estimate vs actual
WMT Revenue Trend
Quarterly revenue: estimate vs actual
WMT Quarterly Results
8 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 26 BEAT FY | $0.70 | $0.74 | +5.71% | $190.66B | — |
| FY Full Year | $2.64 | $2.64 | +0.05% | $713.16B | +0.93% |
| Q3 26 BEAT | $0.60 | $0.62 | +3.11% | $179.50B | +2.47% |
| Q2 26 MISS | $0.74 | $0.68 | -7.88% | $177.40B | +1.73% |
| Q1 26 BEAT | $0.58 | $0.61 | +5.74% | $163.98B | -0.27% |
| Q4 25 BEAT FY | $0.65 | $0.66 | +2.04% | $180.55B | +0.87% |
| FY Full Year | — | $2.51 | — | $680.99B | — |
| Q3 25 BEAT | $0.53 | $0.58 | +8.84% | $169.59B | +1.78% |
| Q4 24 BEAT FY | $1.64 | $1.80 | +9.76% | $173.39B | +1.57% |
| FY Full Year | — | $6.65 | — | $648.13B | — |
| Q3 24 | $1.40 | — | — | — | — |