Wal-Mart Stores (WMT.US) sales are expected to continue growing as its customer base expands.

Wal-Mart Stores (WMT.US) will report its third-quarter 2025 financial results before the market opens on Tuesday. Wall Street analysts expect its sales to improve as the retailer expands its customer base at all income levels, with revenue expected to come in at $167.73 billion, up 4% from the year-ago period of $160.8 billion. In addition, analysts expect the company's net profit to be $4.24 billion, up from $4.53 billion in the year-ago period (partly affected by the negative change in the value of some investments); adjusted profit is expected to be $4.26 billion.

Analysts at Bank of America recently said they believed Walmart's market share at different income levels would continue to grow in the most recent quarter. Melius Research analysts also noted that the retailer has been working to prepare for a "stressful macroeconomic environment" in recent years, where it can win customers from competitors such as discount retailers with smaller packaging and lower prices. Meanwhile, the company has invested in convenience features, such as faster delivery for Walmart+ members.

Analysts at Bank of America also said advertising revenue was a key part of Walmart's business, with its high margins helping to boost the company's overall profits.

Of the 23 analysts who cover Walmart's stock, 22 gave it a "buy" rating and the remaining one gave it a "hold" rating. The average target price is $86.43, up about 3% from Friday's closing price. However, some analysts may be waiting to adjust their expectations for the stock after Walmart's upcoming earnings report.