# Walmart Reports Quarterly Results With Wall Street Expecting Revenue Near $187 Billion

Walmart reported adjusted earnings of 81 cents a share on revenue of $187.9 billion, beating estimates on both counts, but shares fell about 5% in premarket trading as investors weighed how much of the profit gain came from a one-time tariff refund.

- Published: 2026-08-20T05:10:17.617Z
- Canonical: https://polylog.news/2026-08-20/walmart-reports-quarterly-results-with-wall-street-expecting
- Publisher: Polylog (Global desk)
- Section: macro
- Sources: [CNBC](https://www.cnbc.com/2026/08/20/walmart-wmt-q2-2027-earnings.html), [Globes (Hebrew)](https://www.globes.co.il/news/article.aspx?did=1001552849#utm_source=RSS), [CNBC](https://www.cnbc.com/2026/08/19/hyundai-luxury-genesis-ev.html)

Walmart reported fiscal second-quarter results before United States markets opened Thursday, and the figures beat analyst estimates. [CNBC reported](https://www.cnbc.com/2026/08/20/walmart-wmt-q2-2027-earnings.html) revenue of $187.9 billion, up 5.9% from a year earlier, above the roughly $186.8 billion analysts had forecast. Adjusted earnings reached 81 cents a share, above the roughly 74-cent estimate and up from 68 cents a year earlier.

The composition of the profit beat drew attention. [StockTitan reported](https://www.stocktitan.net/news/WMT/walmart-reports-revenue-growth-of-5-9-up-5-1-in-constant-currency-y81shh2ut33w.html) that operating income surged 28.8%, boosted substantially by tariff refunds that lifted the gross profit rate, while e-commerce sales grew 23% and advertising revenue grew 38%, extending the prior quarter's 26% e-commerce growth and 37% advertising growth. Walmart raised its full-year sales growth outlook to a range of 4% to 5%, from a prior 3.5% to 4.5%.

Despite the beat, Walmart shares fell about 5% in premarket trading, as investors focused on how much of the profit gain reflected the one-time tariff refund rather than underlying sales growth.

Similar divergence appears in other consumer markets. In Israel, [Globes reported](https://www.globes.co.il/news/article.aspx?did=1001552849#utm_source=RSS) that Chinese brands have reshaped vehicle sales. The importer Carasso lifted its market share to about 15% on the strength of the Chery brand, while Delek Motors, which imports Mazda and once led the market, fell to about 3%.

At the other end, [Hyundai unveiled the Genesis GV90](https://www.cnbc.com/2026/08/19/hyundai-luxury-genesis-ev.html), a large luxury electric vehicle that becomes the brand's flagship and expands its United States lineup to seven models.

## What this means

Retailers that compete on price and retailers that compete at the top of the market are both growing, and the middle is where share is being lost. That pattern shows up as margin pressure for mid-market chains and mid-priced brands, and as pricing power for discount operators with advertising and membership revenue attached. For central bankers, it complicates the reading of consumer demand, because aggregate consumption can look stable even as its composition shifts toward value. Walmart's commentary on lower-income basket size is the specific number that distinguishes a healthy consumer from one trading down under pressure.

## What to watch

- Walmart's guidance for the rest of the fiscal year, which management sets based on insight into current-quarter customer traffic.
- Whether growth in advertising and membership revenue continues at the prior quarter's pace, since those revenue streams carry far higher margins than merchandise.
- Chinese brand share gains in other import-dependent car markets, an early indicator of where mid-market manufacturers lose volume next.