What is the market's earnings forecast for Walmart next quarter?

What guidance did Walmart's management provide for the next earnings period?

What is the revenue and EPS growth rate for Walmart year over year?

What does Walmart do and what are its main business segments?

What were the key takeaways from Walmart's earnings call?

What factors drove the changes in Walmart's revenue and profit?

What is Walmart's gross profit margin?

What is Walmart's latest dividend and current dividend yield?

- **Revenue Growth**: 5.9% constant currency sales growth, 8% adjusted operating income growth, driven by e-commerce (27% global) and strong U.S. comps (4.5%).
- **AI and Tech**: Expanding AI in supply chain and customer experience; Flipkart's BBD event saw 87 orders/sec, reducing e-commerce losses by 50%.
- **Financial Strength**: Non-GAAP EPS of $1.08, operating income up 8%, with advertising (53% growth) and membership (17% growth) driving diversification.
- **Tariff Resilience**: 7,400 active price rollbacks, 2,000 becoming permanent EDLP; disciplined mix management offsets tariff pressure.
- **Leadership Transition**: John Furner succeeds Doug McMillon, with focus on AI, omnichannel retail, and global expansion (e.g., China e-commerce at 50% penetration).
- **Risks**: U.S. max fare pricing law may cap pharmacy sales growth in 2026; low-income households face cost pressure, but Walmart's value proposition remains strong.

**【CEO Summary Section】**
- **Revenue Growth**: Overall sales grew 5.9% in constant currency, with adjusted operating income up 8%. U.S. comps rose 4.5%, driven by e-commerce (28% growth) and strong performance in fashion, grocery, and health categories.
- **Leadership Transition**: John Furner succeeds Doug McMillon as CEO, with confidence in his ability to lead through AI and omnichannel strategies.
- **Segment Highlights**: International segment led growth with 11.4% sales increase, Flipkart's Big Billion Days event driving record sales. Sam's Club U.S. saw 3.8% comp growth, with e-commerce up 22%.
- **AI and Tech Investments**: Expanding AI in supply chain, e-commerce, and customer experience; partnership with OpenAI for seamless shopping via ChatGPT.

**【CFO Financial Commentary】**
- **Financial Performance**: GAAP net income of $420 million, Non-GAAP EPS of $1.08 (vs. $0.95 prior). Operating income grew 8% in constant currency, outpacing sales.
- **E-commerce Momentum**: Global e-commerce sales up 27%, with U.S. e-commerce contributing 1/3 of adjusted operating income. Advertising revenue rose 53%, membership income 17%.
- **Guidance Update**: Full-year sales growth revised to 4.8-5.1% (prev. 3.75-4.75%), operating income growth 4.8-5.5%. Q4 EPS expected $0.67-0.72.
- **Tariff Management**: Despite tariffs, disciplined pricing and mix management maintained margins; 7,400 active rollbacks in U.S., 2,000 becoming permanent EDLP.

**【Q&A Highlights】**
- **Agentic AI**: Walmart's digital agent (Sparky) enhances personalization, with 20% of Chilean e-commerce orders generated by AI recommendations. Global e-commerce losses reduced by 50%.
- **Consumer Trends**: Consistent Q3 performance across income cohorts, with higher-income households driving growth. Low-income households face pressure, but Walmart's value proposition mitigates risk.
- **Tariff Impact**: Tariffs on key categories (e.g., electronics) offset by cost control and business mix shifts. Pharmacy business may face $100M+ impact from U.S. max fare pricing law in 2026.
- **International Strength**: China e-commerce penetration at 50%, with 80% of digital orders delivered in under an hour. Flipkart's BBD event drove 87 orders/sec, 34% growth in international advertising.
- **Membership Growth**: Walmart+ net adds strongest on record, Sam's Club U.S. membership income up 7%. OnePay credit card and streaming benefits drive engagement.


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