WMT · News · 20260923N

Operating Income and Margins

Walmart Inc. · 2026-09-23 · Importance 29 · Surprise 42

Walmart reported a 3.45% GAAP operating margin for Q2 FY27, described as its lowest quarterly operating margin in nine years. Marketplace and advertising segments delivered strong growth, but their higher-margin contribution did not offset retail-business costs and other accruals. Adjusted operating-income growth excluded tariff refunds and various one-time costs, creating a material difference from reported GAAP performance.

Key facts

• Walmart reported its lowest quarterly operating margin in nine years at 3.45% for Q2 FY27. source