Bentonville, AK — Walmart Reports Revenue of 2.5%, Up 4.0% in Constant Currency  Operating Income Growing 4.3%, or 3.0% Adjusted

First Quarter Highlights: 

– Revenue of $165.6 billion, up 2.5%, or 4.0% (cc); includes ~100 bps headwind from lapping leap day. 

– Global e‑commerce sales grew 22%, led by store‑fulfilled pickup & delivery and marketplace. 

– Global advertising business grew 50%, including VIZIO; Walmart Connect in the U.S. up 31%. 

– Membership and other income up 3.7%, including 14.8% growth in membership income. 

– Gross margin rate up 12 bps, led by Walmart U.S. 

– Operating income up $0.3 billion, or 4.3%, adjusted up 3.0% (cc) due to higher gross margins and growth in membership income; also benefited from improved economics in e‑commerce; includes ~250 bps headwind from lapping leap day. 

– Adjusted EPS of $0.61 excludes the effect (net of tax) of a net loss of $0.05 on equity and other investments. 

– ROA at 7.5%; ROI at 15.3%, up 30 bps. 

– Walmart raises $4 billion in long‑term debt for general corporate purposes at favorable rates.