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Walmart recorded $169.6 billion in total revenue during the third quarter of 2024, up 5.5% from the previous quarter. It recorded a 7.8% return on assets and had an operating income of $6.7 billion.
“We had a strong quarter, continuing our momentum,” says Doug McMillion, Walmart president and CEO. “Our associates are working hard to save people time and money and to transform our business. Across markets, we continue to grow, and our newer businesses helped profits grow faster than sales while we worked to lower prices.”
As Walmart continues to build customer trust, the retail giant’s ecommerce sales increased 27%, due to its strength in store-fulfilled pickup and delivery.
“This quarter’s strong results, once again, show that more customers are choosing Walmart more often because of the investments we’ve made into our core omnichannel retail business to lower prices and provide greater levels of convenience,” says John David Rainey, Walmart executive vice president and chief financial officer. “We’re executing on our strategy, and there is still much more opportunity ahead.”
Comparable sales growth increased 5.3% to $109.4 billion. Next year, Walmart expects this number to continue increasing. In 2025, Walmart expects its net sales and operating income to both increase by around 1%.
