Walmart Highlights Broad Gains, E-commerce Growth in Q4 Earnings

Retailer sees strong profit contributions from advertising and memberships amid uncertain backdrop

Published on Feb. 25, 2026

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Walmart executives reported broad-based share gains, accelerating e-commerce growth, and expanding profit contributions from advertising and memberships during the company's fourth-quarter earnings call. The retailer outlined fiscal 2027 guidance that reflects continued momentum but a 'measured approach' given a still-uncertain backdrop.

Why it matters

Walmart's performance highlights the company's ability to navigate a challenging economic environment, leveraging its omnichannel model and diversifying revenue streams to drive growth. The results underscore Walmart's position as a retail industry leader and provide insights into broader consumer and industry trends.

The details

CEO John Furner said fourth-quarter revenue increased 4.9% in constant currency, including 24% global e-commerce growth. Adjusted operating income rose 10.5% in constant currency, with all three segments growing profits faster than sales. CFO John David Rainey cited 'broad-based share gains' and said adjusted operating income growth in the quarter was more than twice the rate of sales growth. For the full year, Rainey said Walmart grew revenue by approximately 5% in constant currency, adding $35 billion in revenue, and that sales exceeded $700 billion for the first time.

  • Walmart reported its fourth-quarter earnings on February 19, 2026.

The players

Walmart

A multinational retail corporation that operates a broad portfolio of store formats and digital services, including large-format supercenters, discount department stores, neighborhood grocery stores, and a membership warehouse chain, Sam's Club.

John Furner

The CEO of Walmart.

John David Rainey

The CFO of Walmart.

Dave Guggina

The CEO of Walmart U.S.

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What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident (San Francisco Chronicle)

The takeaway

Walmart's strong fourth-quarter performance, driven by broad-based share gains, accelerating e-commerce growth, and expanding profit contributions from advertising and memberships, underscores the company's ability to adapt and thrive in a challenging economic environment. The results highlight Walmart's position as a retail industry leader and provide insights into broader consumer and industry trends.