Observed Signal · Feb 19, 2026 · Earnings Report · Source: AdExchanger · Impact: 4/5 · Sentiment: Positive
Walmart's Ad Revenue Soars to $6.4 Billion in 2025
Walmart reported $6.4 billion in advertising revenue for 2025, driven by its Walmart Connect business and associated assets including VIZIO. The figure represents a 37% global increase and a 41% domestic increase for Walmart Connect. Company executives said advertising and membership fees contributed materially to recent quarterly profit, and highlighted ecommerce investments — including a growing third-party marketplace and rapid delivery options — as accelerants for ad monetization. Walmart noted strong ad growth but warned of softer consumer signals among lower-income shoppers and investor concerns about ecommerce cannibalizing higher-margin in-store sales. Walmart also disclosed usage signals for its agentic shopper assistant, Sparky, noting higher order values among users.
A major retailer reported sizeable, high-growth ad revenue tied to ecommerce and retail media — a meaningful signal for retail media networks, ad monetization strategies, and competitive dynamics with other large platforms.
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Key Takeaways & Evidence Grounding
- Walmart reported $6.4 billion in ad revenue for 2025.
- Walmart Connect ad revenue grew 37% globally and 41% domestically in 2025.
- Walmart's total 2025 sales were $713 billion; ad revenue represented roughly 1% of sales.
- Snapchat reported $5.9 billion in total ad revenue for 2025 for comparison.
- VIZIO (acquired by Walmart in 2024) delivered triple-digit percent ad revenue growth.
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Walmart's Ad Revenue Soars 46% to Nearly $6.4B
Walmart reported that its global advertising business generated nearly $6.4 billion in 2025, a 46% year-over-year increase that includes Vizio inventory. The company posted $713.2 billion in total revenue for 2025 (up 5.1% adjusted for inflation) and $190.7 billion in Q4 revenue (up 4.9% adjusted). Walmart Connect in the U.S. grew 41% in Q4, though ad growth slowed to 37% in Q4 from 53% in Q3. Additional operational highlights: ecommerce net sales rose 24% in Q4 (23% of total net sales), operating income grew 10.5% in Q4 (inflation-adjusted), and “fast delivery” volumes increased 60% year-over-year. The results underscore continued expansion of Walmart’s retail-media and commerce-driven advertising business.
Walmart Raises Guidance After 38% Ads Growth
Walmart reported a strong quarter driven by advertising and ecommerce, with global ad revenue up 38% and U.S. Walmart Connect growth of 43% (excluding Vizio). Total revenue was $187.9 billion, a 5.9% year-over-year increase, and adjusted EPS beat estimates. The company raised its full-year adjusted EPS guidance to $2.80–$2.87. Walmart recently closed its acquisition of CTV platform Vibe.co and plans to fold it into Walmart Connect to extend first-party commerce data and measurement into streaming; the retailer also owns Vizio from a 2024 deal. Walmart is scaling AI capabilities through its Sparky shopping agent (users up 70% year-over-year; Sparky users spend 40% more per order). Leadership cited tariff refunds and regulatory headwinds but emphasized the strategic value of integrating shopping, media, and streaming.
Walmart Ad Revenue Rises 37% in Q1
Walmart reported a 37% increase in global advertising revenue in the first quarter, alongside broader retail growth. Total company revenue was $177.8 billion (up 7.3% year-over-year), ecommerce sales rose 26% YoY, and Walmart’s U.S. third-party marketplace sales grew 50% in Q1. The retailer said weekly usage of its AI shopping assistant Sparky more than doubled during the quarter. CEO John Furner highlighted increasing shopper use of Sparky as a growth driver. The report underscores continued momentum for Walmart’s retail-media and commerce businesses amid strong consumer spending trends.
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