Q2
WMT — Q2 2026 Financial Report Analysis
Walmart's quarter ended 31 July 2026 shows revenue up 5.9% and operating income up 28.8%, but both headline figures are distorted: a one-time $2.9bn customs tariff refund exceeds the entire rise in operating profit, while a $3.9bn year-over-year swing in investment marks pushed reported EPS down 9.1% even as adjusted EPS rose 19.1%.