Walmart(US:WMT) Hua Er Jie Jian Wen·2025-08-21 13:05Core Insights - Walmart's Q2 revenue exceeded expectations, driven by strong e-commerce growth, but profits fell short for the first time in three years due to rising costs from tariffs [1][5] Group 1: Financial Performance - Q2 revenue reached $177.4 billion, surpassing analyst expectations of $176.16 billion [1] - U.S. same-store sales grew by 4.6%, exceeding the expected 4% [1] - Adjusted earnings per share were $0.68, below the anticipated $0.74, marking the first miss in three years [1] - Net profit rose to $7.03 billion, or $0.88 per share, significantly up from $4.5 billion or $0.56 per share in the same quarter last year [6] Group 2: E-commerce Growth - Global e-commerce sales increased by 25%, with U.S. market growth at 26% [3] - Grocery and other product sales via store delivery grew nearly 50%, with one-third of orders being expedited [3] Group 3: Tariff Impact and Cost Management - The company is facing rising tariff costs, which are being managed on a product-by-product basis [5] - Some prices have increased for about 50 products, including frying pans and jeans, due to higher tariffs [5] - Approximately one-third of U.S. sales come from overseas, with major import markets including China, Mexico, Canada, Vietnam, and India [5] Group 4: Sam's Club Performance - Sam's Club same-store sales grew by 5.9%, surpassing the expected 5.2% [6] - U.S. business foot traffic increased by 1.5%, and average transaction value rose by 3.1%, indicating higher shopping frequency and spending [6]