Walmart Q4 Revenue Up 4.9%, E-Commerce Growth 24% Spurs $30B Buyback
Walmart reported Q4 revenue rose 4.9% constant currency to exceed $700 billion in annual sales, while adjusted operating income climbed 10.5% powered by 24% e-commerce growth and a 37% advertising gain. The retailer authorized a $30 billion buyback and forecast fiscal 2027 sales up 3.5–4.5% with 6–8% income growth.
1. Q4 Financial Performance
Walmart delivered Q4 revenue growth of 4.9% in constant currency, adding $35 billion to full-year sales to surpass $700 billion. Adjusted operating income rose 10.5%, overcoming a 300-basis-point headwind from higher claims expenses and tariffs.
2. Growth in Digital and Advertising
Global e-commerce sales jumped 24%, with U.S. e-commerce up 27% and fast-delivery orders under three hours growing over 60%. Advertising revenue increased 37% in the quarter (41% in U.S.), and membership income topped $4.3 billion, with ad and membership streams representing roughly one-third of operating income.
3. Share Repurchase and Capital Allocation
Management approved a new $30 billion share repurchase authorization—the largest in company history—and plans to keep capital expenditures near 3.5% of sales, prioritizing supply chain automation, store remodels and AI investments.
4. Fiscal 2027 Guidance and Outlook
Walmart forecast constant-currency sales growth of 3.5–4.5% and operating income expansion of 6–8%, with EPS of $2.75–2.85. First-quarter expectations include 3.5–4.5% sales growth and 4–6% operating income growth, reflecting prudent confidence in the macroeconomic environment.