(NYSE:WMT) reported fiscal second quarter 2026 earnings (period ended August 2, 2025) on August 21, 2025, highlighting 5.6% constant currency revenue growth and 25% global e-commerce expansion. Consolidated adjusted operating income increased 0.4% year-over-year despite a $450 million incremental general liability claims expense, while full-year sales growth guidance for fiscal 2026 was raised by 75 basis points to 3.75%-4.75%. The following analysis provides insight into strategic shifts in e-commerce, margin resiliency, and AI acceleration.

Global e-commerce sales rose 25% year-over-year in the fiscal second quarter, including 26% growth in U.S. e-commerce and strong marketplace participation, with 44% of marketplace volumes flowing through Walmart Fulfillment Services (WFS). Sam’s Club and Walmart International both delivered more than 20% e-commerce growth year-over-year, while advertising grew 46% globally, and membership income increased over 15% year-over-year in the quarter.

The acceleration of higher-margin businesses such as advertising and membership is structurally increasing Walmart’s profit resilience by reducing dependency on low-margin core retail.

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Source Fool.com