Walmart Releases Q2 FY27 Earnings

Evidence tier: A1 Evidence type: Auto-discovered official publication Source: Walmart Corporate News Official publication date: 2026-08-20 Captured: 2026-08-30T12:34:31.110Z

Walmart Releases Q2 FY27 Earnings

We are delivering on our strategy, powered by speed and scale.

Walmart U.S.

Q2 FY27 performance in Walmart U.S. reflected the strength of our strategy, with strong growth across digital and sustained eCommerce momentum. Store-fulfilled delivery increased 40% in the quarter, alongside more than 50% growth in marketplace net sales during the same period. Core merchandise categories continued to grow consistently with prior trends, with market share gains across income cohorts. Comp sales, setting aside a negative 125bps impact from Maximum Fair Pricing legislation in pharmacy, were steady with prior periods.

24%

Walmart U.S. eCommerce growth

Sam's Club U.S.

Sam’s Club U.S. delivered solid momentum in Q2 FY27 with sales strength in key categories, increased transactions, and steady membership growth. Members leaned into speed and convenience options – demonstrated by strong eCommerce growth, including club-fulfilled delivery, along with increased adoption of Scan and Go. Membership growth reflects steady growth in member accounts and Plus membership penetration.

26%

Sam’s Club U.S. eCommerce growth

Walmart International

Walmart International delivered strong top-line results, with double-digit sales increases across key merchandise categories. Digital was an enabler this quarter, with digital mix up across markets. Operating income growth was driven by strong improvements in eCommerce economics led by China, India, and Canada. Membership fee revenue grew with strength in key markets. Sam’s Club China hit record highs in member counts in Q2 FY27, with strong relative performance in the Sam’s Club format in Mexico. Advertising business grew 20%, led by Flipkart Ads.

19%

Walmart International eCommerce growth

Business model getting

stronger, more durable

We continue to evolve our business mix, while building capabilities that are scalable across markets. Marketplace, fulfillment services, membership, advertising and other commerce solutions are strengthening our business and improving the economics of the company. In Q2 FY27, momentum in marketplace and fulfillment services continued, as nearly 50% of the marketplace business flowed through fulfillment services. In Q2 FY27, we expanded our marketplace platform into markets outside the U.S.

17%

Global membership fee revenue

Delivering value

and convenience

Everything we do starts with serving customers and members. We are building trust through having the best prices on a basket of goods. The Walmart U.S. team delivered more than 11,000 rollbacks during Q2 FY27. The company received nearly $2.9B in IEEPA tariff refunds and prioritized investment in price during the period. We’re investing in prices because customers are looking to us for value. At the same time, we’re investing in technology and tech-powered solutions that help make the Walmart experience faster, more convenient and personalized – while expanding the number of occasions where Walmart can serve customers.

Operating

with discipline

Our long-term growth strategy is clear and we continue to execute. We remain focused on serving customers and members better, while managing the economics of the business and reinvesting in long-term strategic value drivers that position us for sustained growth over the long term. Adjusted operating income2 growth in constant currency1 of ~17% in Q2 included a 750bps net benefit from tariff refunds received. Setting aside this benefit, underlying operating income growth was at the top end of our 7-10% guidance. Our business model is only getting stronger and more durable – and this gives us confidence to raise our sales and operating income growth guidance for the year.

$19.7B

Operating cash flow

$5.5B

Free cash flow6