Walmart Raises Sales and Earnings Outlook on E-Commerce growth and New Customers

A shopper pushes a cart outside a Walmart store in San Leandro, California, US, on Tuesday, Aug. 19, 2025.
David Paul Morris | Bloomberg | Getty Images

Walmart raised its sales and earnings outlook Thursday as the retailer posted revenue gains in its fiscal third quarter driven by double-digit e-commerce growth and new customers across incomes.

The retailer said it expects full-year net sales to climb between 4.8% and 5.1%, up from its previous expectations of 3.75% to 4.75%. It said it expects its adjusted earnings per share to range from $2.58 to $2.63, a slight raise from its prior range of $2.52 to $2.62.

It marked the second quarter in a row Walmart hiked its full-year forecast.

Walmart’s earnings report is the first since the Arkansas-based company announced a leadership change. The big-box retailer said last week that John Furner, the CEO of its U.S. business, will succeed longtime CEO doug McMillon on Feb. 1.

In an interview with CNBC, Chief Financial Officer John David Rainey said consumer habits didn’t change during the quarter, as shoppers spent selectively and looked for deals. He said walmart has gained those “value-seeking” customers across incomes, both as of the economic backdrop and its own strategic moves.

“Consumers are looking to do business with those companies that are providing value, that are delivering the convenience that thay’ve come to know and expect, and that are executing consistently well,” he said.

He said Walmart saw an impact from the pause in Supplemental Nutrition Assistance Program, or SNAP, benefits, formerly known as food stamps, during the prolonged government shutdown. But he said “that’s starting to rebound now that people

Walmart sees Sales Rise as Ad Business Booms

In the U.S., shoppers are heading to walmart more often and spending a bit more each time. Customer transactions increased by 1.8%, and the average amount spent per visit went up 2.7%.

Walmart’s also seeing big growth in its advertising business as more people shop online and they add more products from other companies to their website. Globally, their advertising revenue jumped 53%, boosted by Vizio, the smart TV maker they bought last year for $2.3 billion. In the U.S. alone, Walmart Connect, their advertising platform, grew 33% compared to last year.

Walmart’s thinking about making another purchase. They’ve been quickly expanding the number of products sold by other companies on their site, and they’re now talking about buying R&A Data, a company that helps fight scams and fake products, as CNBC reported.

Like other stores, Walmart has had to raise prices on some things as of higher costs, including tariffs. About a third of what Walmart sells in the U.S. comes from other countries, especially China, Mexico, Canada, Vietnam, and India, according to Walmart’s John Rainey in a May CNBC interview.

Rainey told CNBC on Thursday that these higher tariff costs are a real challenge. Though,he said walmart’s team is working to lessen the impact on customers by finding ways to absorb some of those costs.

Chris Furner, Walmart’s future CEO (he currently runs the U.S. side of the business), said during the earnings call that prices on important food items have come down a little, which is helping to offset the tariff pressures. Earlier this month, Trump lowered tariffs on some agricultural imports like cocoa, bananas, and coffee after facing criticism over high prices.

Furner also said that offering a wider variety of products is helping.