Walmart’s ad business surges 53%, e-commerce growth tops 20% for 7th straight quarter

The company attributed the strong topline performance to accelerating e-commerce momentum, particularly store-fulfilled delivery and fast-growing advertising revenues.

During the quarter, Walmart’s global advertising business surged 53%, aided by Vizio — the smart TV manufacturer it acquired last year for $2.3 billion. Its US ad arm, Walmart Connect, recorded a 33% year-on-year increase.

“Q3 FY26 marked the seventh consecutive quarter of e-commerce growth above 20%. Around 35% of store-fulfilled orders were delivered in under three hours. Sales from these faster delivery channels rose nearly 70%,” the company stated.

In India, where Walmart holds an 81% stake in Flipkart, the retailer recorded a new high during the Big Billion Days sale: 87 orders delivered per second, with the quickest delivery made in about three minutes.

With digital sales rising, Walmart signaled a clear shift from its traditional brick-and-mortar identity, noting that it is gaining market share among higher-income consumers. Global e-commerce sales grew 27% in the quarter.

The company also announced that it will transition its listing from the New York Stock Exchange to tech-heavy Nasdaq next month, aligning more closely with its expanding technology and digital ecosystem.

Walmart raised its full-year outlook and now expects net sales to grow between 4.8% and 5.1%, up from its earlier forecast of 3.75% to 4.75%.

In leadership updates, Walmart confirmed that CEO Doug McMillon will step down in January. McMillon, 59, began his career at the company in the 1980s and has served as CEO since 2014, overseeing major store remodels and a rapid expansion of e-commerce and delivery infrastructure, particularly during the pandemic. John Furner, who has led Walmart’s U.S. operations since 2019, will take over as CEO on February 1.