"The big picture: Walmart continues to gain grocery share across both its mainline stores and Sam's Club, as it attracts both value-seeking and higher-income shoppers. The company is investing heavily in AI-powered shopping and personalization tools to make its online experience more intuitive and predictive. Last month it unveiled an OpenAI partnership to let shoppers check out directly through ChatGPT. By the numbers: Third-quarter revenue was $179.5 billion, up 5.8% year-over-year, topping Wall Street estimates."
"E-commerce sales were up 27% globally, including 28% in the U.S. Advertising revenue rose by 53%, boosted by the acquisition of TV maker Vizio; Walmart Connect U.S. grew 33%. Membership and other income grew 9%. Walmart also said it will move its stock listing from the NYSE to Nasdaq as of Dec. 9, which CFO John David Rainey said aligns with the "people-led, tech-powered approach to our long-term strategy." The switch is considered more symbolic than market-moving."
Walmart is gaining grocery share across mainline stores and Sam's Club, attracting both value-seeking and higher-income shoppers. The company is investing heavily in AI-powered shopping and personalization tools to create a more intuitive and predictive online experience and unveiled an OpenAI partnership enabling checkout through ChatGPT. Third-quarter revenue reached $179.5 billion, up 5.8% year-over-year, with global e-commerce up 27% (28% in the U.S.). Advertising revenue rose 53%, aided by the Vizio acquisition, while Walmart Connect U.S. grew 33% and membership and other income increased 9%. Walmart will move its listing to Nasdaq on Dec. 9 and raised its full-year sales and operating income outlook.
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