NASDAQ$WMT
Walmart Inc. · Q3 2025 earnings
Q3 2025 earnings · · Investor relations
Briefing
Walmart reported strong revenue growth and increased operating income, with eCommerce showing substantial gains and the company raising its guidance for FY25.
Walmart's Q3 2025 results showed strong revenue growth of 5.5% and an even faster operating income growth of 8.2%. E-commerce sales increased by 27% globally. The company has raised its guidance for FY25.
- Consolidated revenue increased by 5.5% to $169.6 billion.
- Global eCommerce sales grew by 27%, driven by store-fulfilled pickup & delivery and marketplace.
- Walmart U.S. comp sales increased by 5.3% with positive growth in general merchandise.
- The company raised its guidance for FY25, projecting net sales to grow by 4.8% to 5.1% and adjusted operating income to grow by 8.5% to 9.25% in constant currency.
Headline financials
Revenue & EPS history
Walmart · Revenue · Quarterly
$170B
Revenue by segment
Walmart · $176B total across 3 segments · Q1 2027
- Walmart U.S.$117B—66.7%
- Walmart International$35.1B—20.0%
- Sam's Club U.S.$23.4B—13.3%
Forward guidance
Walmart has raised its guidance for fiscal year 2025. Net sales are expected to grow 4.8% to 5.1% and adjusted operating income to grow 8.5% to 9.25% in constant currency.
Tailwinds
- Net sales (cc) Increase 4.8% to 5.1%
- Adj. operating income (cc) Increase 8.5% to 9.25%
- Interest, net Approximately flat to last year
- Effective tax rate Approximately 24.5%
- Adjusted EPS $2.42 to $2.47
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 2025
-0.3%
Avg return
Earnings day
-0.2%
Avg return
5 days after
+0.0%
Avg return
30 days after
39%
28 / 72 earnings
Positive
+10.6%
Q1 2017
Best reaction
-17.4%
Q1 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2027 | +0.7% | — | — | |
| Q4 2026 | -1.4% | +0.1% | -6.0% | |
| Q3 2026 | +5.9% | +6.4% | +13.7% | |
| Q2 2026 | -4.2% | -6.4% | -0.2% | |
| Q1 2026 | -0.5% | +1.0% | -2.5% | |
| Q4 2025 | -6.5% | -6.1% | -17.3% | |
| Q3 2025 | +3.7% | +7.6% | +11.1% | |
| Q2 2025 | +7.0% | +8.6% | +17.4% | |
| Q1 2025 | +8.1% | +8.9% | +12.0% | |
| Q4 2024 | +2.0% | +3.1% | +8.2% | |
| Q3 2024 | -8.5% | -8.2% | -10.0% | |
| Q2 2024 | -0.8% | -1.4% | +3.4% | |
| Q1 2024 | +0.3% | -0.8% | +4.0% | |
| Q4 2023 | -1.5% | -2.7% | -4.0% | |
| Q3 2023 | +7.3% | +8.6% | +5.0% | |
| Q2 2023 | +5.2% | +3.3% | +0.7% | |
| Q1 2023 | -17.4% | -19.6% | -18.6% | |
| Q4 2022 | +3.3% | +2.2% | +8.9% | |
| Q3 2022 | -3.4% | -3.1% | -2.4% | |
| Q2 2022 | -1.1% | +0.5% | -3.8% | |
| Q1 2022 | +2.2% | +2.1% | -0.8% | |
| Q4 2021 | -6.0% | -8.0% | -10.5% | |
| Q3 2021 | -2.2% | -1.4% | -4.2% | |
| Q2 2021 | -2.3% | -2.9% | +0.8% | |
| Q1 2021 | -1.7% | -2.6% | -7.6% | |
| Q4 2020 | -0.2% | +0.6% | +1.3% | |
| Q3 2020 | -1.8% | -0.9% | -0.6% | |
| Q2 2020 | +6.4% | +5.5% | +10.6% | |
| Q1 2020 | +1.0% | +1.2% | +9.2% | |
| Q4 2019 | -0.1% | -0.4% | -0.9% | |
| Q3 2019 | -3.8% | -7.3% | -9.5% | |
| Q2 2019 | +8.5% | +6.5% | +4.8% | |
| Q1 2019 | -2.9% | -3.2% | -2.8% | |
| Q4 2018 | -12.7% | -11.3% | -16.8% | |
| Q3 2018 | +8.5% | +7.4% | +8.1% | |
| Q2 2018 | -2.0% | -1.2% | -0.7% | |
| Q1 2018 | +4.9% | +4.5% | +0.2% | |
| Q4 2017 | +3.4% | +4.4% | +0.7% | |
| Q3 2017 | -4.0% | -1.8% | -0.6% | |
| Q2 2017 | -0.2% | -1.3% | -0.1% | |
| Q1 2017 | +10.6% | — | — | |
| Q4 2016 | -2.2% | — | — | |
| Q3 2016 | +5.3% | — | — | |
| Q2 2016 | -4.6% | — | — | |
| Q1 2016 | -5.0% | — | — | |
| Q4 2015 | -2.3% | — | — | |
| Q3 2015 | +4.7% | — | — | |
| Q2 2015 | -0.2% | — | — | |
| Q1 2015 | -2.2% | — | — | |
| Q4 2014 | -2.3% | — | — | |
| Q3 2014 | +0.4% | — | — | |
| Q2 2014 | -3.0% | — | — | |
| Q1 2014 | -2.5% | — | — | |
| Q4 2013 | +1.7% | — | — | |
| Q3 2013 | -4.6% | — | — | |
| Q2 2013 | -3.3% | — | — | |
| Q1 2013 | +5.5% | — | — | |
| Q4 2012 | -6.2% | — | — | |
| Q3 2012 | -2.9% | — | — | |
| Q2 2012 | +3.1% | — | — | |
| Q1 2012 | -1.6% | — | — | |
| Q4 2008 | -0.4% | — | — | |
| Q3 2011 | +0.8% | — | — | |
| Q2 2011 | +3.2% | — | — | |
| Q4 2010 | +3.2% | — | — | |
| Q1 2010 | -1.9% | — | — | |
| Q1 2011 | +0.1% | — | — | |
| Q3 2009 | -1.6% | — | — | |
| Q3 2010 | -1.6% | — | — | |
| Q4 2009 | -0.7% | — | — | |
| Q2 2009 | -0.7% | — | — | |
| Q2 2010 | -0.7% | — | — |
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