Walmart Releases Q3 FY26 Earnings
We are innovating new experiences for our customers and members, delivering solid financial results
We grew sales, while driving growth in our higher-margin businesses, such as advertising. We’re deploying capital toward the highest returns, enhancing customer and member experience through our strengths in tech-powered omnichannel innovation.
Building
customer trust
Value and convenience of our omnichannel strategy continues to resonate with customers and members.
Diversifying
business mix
Evolving our business model, growing our omnichannel leadership position.
in the U.S. grew 33%.
Driving
higher returns
Targeting growth investments toward areas of higher return, while controlling costs through disciplined execution.
Investing
in our future
Increasing competitive advantages, innovating new customer and member experiences.
We continued to show up for customers and members, providing value and convenience. We delivered continued sales momentum across the company in Q3 FY26, enabled by our competitive advantages.
We delivered solid results in Q3 FY26. Transactions and units drove top-line performance globally. We demonstrated the strength and resilience of our business model by managing inventory levels and costs, while driving eCommerce growth across each segment.
Walmart U.S.
Sales growth in Walmart U.S. reflects acceleration in eCommerce, led by store-fulfilled delivery and advertising. Q3 FY26 represented the seventh consecutive quarter of eCommerce growth above 20%. Approximately 35% of store-fulfilled orders were delivered in under three hours. Sales through these expedited channels increased nearly 70%.
Sam's Club U.S.
Members continue to engage more with our digital solutions, both inside the club using Scan & Go, as well as through the convenience of curbside pickup and delivery options. Member adoption of Scan & Go and club-fulfilled delivery both grew in Q3 FY26.
Membership
Membership income growth across the enterprise was led by 34% growth in Walmart International primarily due to growth in Sam’s Club China membership. In the U.S., Walmart+ membership income continued to grow at a double-digit pace, as membership growth accelerated across all income cohorts. Sam’s Club U.S. continued to see steady growth in member counts and renewal rates, contributing to 7.1% membership income growth for the segment.
Walmart International
Walmart International delivered solid top-line results, led by strength in Flipkart, China and Walmex. We saw strong engagement in Flipkart’s Big Billion Days event. At our peak, we delivered 87 orders per second, with the fastest delivery in about three minutes. Contributions from business mix, improved eCommerce economics, and growth of membership income drove strong adjusted operating income2 growth of nearly 17% for the segment.
eCommerce growth
Q3 FY26 earnings resources
Related financial news
Find out more about previous earnings announcements, investments and other news from FY26.
Our results in Q3 FY26 illustrate the underlying strength and resilience of our business. We continue to balance our ongoing investments with improved, tech-powered experiences for customers, members and associates that we expect to expand margins and increase returns for shareholders in the years ahead.
Saving customers
time and money
Next-gen tools, new services and bigger savings mean more joy in every aisle.
Transforming
customer experience
OpenAI is helping us build shopping experiences that meet customers’ evolving needs.
Strengthening communities
Supporting entrepreneurs whose products — and passions — are made in America.
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Constant Currency is a non-GAAP measure. See additional information at the end of the release regarding non-GAAP financial measures.
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Adjusted Operating Income is a non-GAAP measure. See additional information at the end of the release regarding non-GAAP financial measures.
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Our global advertising business is recorded in either net sales or as a reduction to cost of sales, depending on the nature of the advertising arrangement.
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Calculated for the trailing-twelve months ended October 31, 2025. ROI is considered a non-GAAP financial measure. See additional information at the end of the release regarding non-GAAP financial measures.
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Comp sales for the 13-week period ended October 31, 2025 compared to the 13-week period ended October 25, 2024 and excludes fuel. See Supplemental Financial Information for additional information.
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Free cash flow is a non-GAAP measure. See additional information at the end of the release regarding non-GAAP financial measures.
