Summary (tl;dr)

Walmart significantly exceeded third-quarter earnings and revenue expectations for its fiscal year 2026, leading the retail giant to raise its full-year financial forecasts. Additionally, the company announced its decision to transfer its stock listing from the New York Stock Exchange (NYSE) to Nasdaq.

Essential Background

Walmart is a dominant force in global retail, recognized for its extensive network of stores and its commitment to offering everyday low prices. As a key indicator of consumer health, Walmart's financial reports are closely monitored by investors and economists. Prior to this announcement, there was anticipation regarding the company's performance amidst ongoing economic factors such as inflation and a tightening job market, which have influenced consumer spending habits and heightened price sensitivity.

The Full Story

On Thursday, November 20, 2025, Walmart released its fiscal third-quarter results for the period ending October 31, 2025. The company reported a net income of $6.14 billion and adjusted earnings per share of $0.62, outperforming analysts' consensus estimates of $0.61 per share. Revenue surged by 5.8% to $179.5 billion, surpassing expectations of around $177.4 billion. This strong financial showing was attributed to a 4.5% rise in U.S. comparable sales, encompassing both in-store and online channels, and a notable 27% increase in global e-commerce sales. Bolstered by these results, Walmart subsequently increased its annual adjusted earnings per share guidance to a range of $2.58 to $2.63 and elevated its annual net sales growth forecast to between 4.8% and 5.1%. Furthermore, Walmart revealed plans to move its stock listing from the NYSE to the Nasdaq stock market, effective December 9, a strategic shift that aligns with its focus on technology and innovation.

Why It Matters

Walmart's robust earnings and optimistic financial outlook signal strong performance leading into the critical holiday shopping season, suggesting resilience in consumer spending despite economic pressures. The company's success in gaining market share across various income brackets, coupled with significant e-commerce growth, underscores the effectiveness of its value-driven strategy in the current market environment. The decision to shift its stock listing to Nasdaq is a strategic move that highlights Walmart's growing emphasis on technology and digital transformation, potentially attracting a new segment of investors keen on tech-forward companies. This move could reshape how Walmart is perceived in the market, positioning it more as an innovative, technology-enabled retailer rather than solely a traditional brick-and-mortar entity.

Geographic Location

• Bentonville, Arkansas, United States (Walmart Inc. headquarters, where earnings were reported)
• New York, New York, United States (Current listing on New York Stock Exchange; announced move to Nasdaq)
• United States (Primary market for comparable sales growth and consumer spending trends)
• Global (Global e-commerce sales growth)