WMT Q3 2025 Earnings — Income Statement Breakdown
For its Q3 2025 period (ending 2025-10-31), WMT reported revenue of $177.8B, gross profit of $43.1B (24.2% gross margin), operating income of $6.7B, and net income of $6.1B (3.5% net margin). The flow of revenue into costs and profit is visualized below.
What changed
WMT was profitable; revenue grew 5.8% year over year, and EPS beat consensus by $0.01.
| Comparison | Revenue | Net income | Net margin |
|---|---|---|---|
| Year over year | +5.8% | +34.2% | Not available |
| Quarter over quarter | +1.1% | −12.6% | Not available |
EPS was $0.62 versus $0.61 expected.
WMT Q3 2025 Income Statement
| Line item | Amount (USD) | % of revenue |
|---|---|---|
| Revenue | $177.8B | 100% |
| Cost of Revenue | −$134.7B | 75.8% |
| Gross Profit | $43.1B | 24.2% |
| Research & Development | — | 0.0% |
| Selling, General & Administrative | −$38.1B | 21.4% |
| Operating Income | $6.7B | 3.8% |
| Interest Expense | −$563M | 0.3% |
| Other Income, net | $2.1B | 1.2% |
| Income Tax Expense | −$2.1B | 1.2% |
| Net Income | $6.1B | 3.5% |
Source: original SEC filing (filed 2025-11-20). Accession 0000104169-25-000177. Data normalized by EarningsFyi.