Walmart Just Crossed $700 Billion in Annual Revenue — Here's What That Means
Walmart, America's largest retailer, just hit a milestone that would have seemed unimaginable a decade ago: more than $700 billion in annual revenue. To put that in perspective, that's larger than the entire economy of many countries.
The company reported Q4 2026 earnings on February 19th, delivering earnings per share of $0.74 (beating analyst expectations of $0.73) on quarterly revenue of $190.7 billion, slightly ahead of the $190.4 billion forecast. Full-year revenue came in above $700 billion for the first time in the company's history.
What drove the growth?
The standout number was e-commerce, which grew 24% globally. Walmart has been quietly building one of the most powerful digital shopping operations in the world, and it's working. CEO Doug McMillon (this was also the first report under new CEO John Furner, who took over in early February) credited the company's "omnichannel" strategy, the ability for customers to shop online, pick up in-store, or get same-day delivery, as the key driver.
Other highlights: Walmart Connect (its advertising business) grew 41% in the US, and the company's operating cash flow hit $42 billion for the year. The company also announced a new $30 billion share buyback program, its largest ever.
What does this mean for you?
When Walmart is doing well, it's generally a positive sign for consumer spending. Walmart's customer base skews toward middle- and lower-income Americans, so strong results suggest that group is still spending. However, Walmart's management noted a "somewhat unstable" backdrop for the coming year and offered cautious guidance, and suggested lower-income Americans are struggling to make ends meet.
One thing to watch: Walmart's strength in e-commerce is putting continued pressure on Amazon. Both companies are fighting for the same everyday-items customer, and Walmart's 24% e-commerce growth shows the battle is far from over.
Sources: Investing.com, Walmart Investor Relations, CNBC