The numbers
53%: Walmart’s year-over-year global advertising growth in Q3, including Vizio. Walmart Connect in the U.S. grew 33%.
$179.5 billion: Walmart’s Q3 revenue, up 5.8% year over year.
16.7%: Year-over-year increase in membership revenue, including Walmart+ and Sam’s Club. Membership for Walmart International grew 34%, led by Sam’s Club China.
95%: The percentage of American households that can purchases delivered from Walmart within three hours.
$23.6 billion: Net sales for Sam’s Club U.S., with comparable sales up 3.8%. That’s lower than some analysts expected, and outstripped by Costco, which saw a 5.1% increase in U.S. comparable sales during its most recent quarter.
The watercooler talk
Walmart’s ad business grew by more than half in Q3 including Vizio, a number that has increased each quarter of this year. The company didn’t break out advertising revenue numbers specifically.
The company also announced that it’s moving from the New York Stock Exchange to Nasdaq, which may be seen by investors as an effort to be perceived as a more tech-forward company. Tech giants including Amazon, Microsoft, and Apple are traded on the Nasdaq, and many companies have made the switch in recent years, including PepsiCo, DoorDash, and Keurig Dr. Pepper.
The key quote
While AI agents like Sparky might be the flashier side of AI, Walmart execs highlighted the benefits of automation within their fulfillment centers, and how that’s making delivery cheaper and faster.
