Walmart shares jumped 6.5% after it reported a 34% increase in net income for the third quarter of the 2026 financial year (Q3 FY26), upgraded its full-year forecast and announced a shift in listing to the Nasdaq.
The world's biggest retailer said net income rose to US$6.143 billion (A$9.45 billion) and diluted earnings per share (EPS) increased 35.1% to 77 cents on revenue, which grew 5.8% to $179.496 billion in the three months ended 31 October 2025.
Net income was boosted by a $2.081 billion gain on equity and other investments.
Operating income was flat mainly due to a non-cash share-based compensation charge at 85% owned Indian financial technology company PhonePe ahead of a potential initial public offer, but without this, it was up by 8%.
In the first nine months of FY26, income rose 24.5% to US$17.656 billion, and diluted earnings per share (EPS) increased 25.7% to $2.20 on revenue, which grew 4.4% to $522.507 billion.
President and CEO Doug McMillon said the Walmart team delivered another strong quarter, gaining market share, improving delivery speed and managing inventory well.
He said eCommerce was a bright spot again, growing 27% globally.
“We’re well positioned for a strong finish to the year and beyond that, thanks to our associates,” McMillon said in an earnings release.
For FY26, the company raised its outlook for net sales growth to 4.8% to 5.1%, adjusted operating income growth to 4.8% to 5.5% and adjusted EPS to $2.58-$2.63 from $2.52-$2.62.
In a separate release, Walmart said it would transfer the listing of its common stock to the Nasdaq Stock Market from the New York Stock Exchange on 9 December 9 under its current ticker WMT.
“Moving to Nasdaq aligns with the people-led, tech-powered approach to our long-term strategy,” Chief Financial Officer John David Rainey said.
Q3 EPS earnings of 62 cents per share surpassed analysts’ forecasts of 60 cents while revenue of $179.5 billion beat forecasts of $177.4 billion.
Walmart (NYSE: WMT) shares closed $6.78 (6.74%) higher at $107.38 on Thursday (Friday AEDT), capitalising the company at $856.05 billion.
Founded in 1962, Walmart is the world’s largest retailer by revenue and operates in 19 countries.
