Q2 international sales growth led by Flipkart and other markets: Walmart

economictimes.indiatimes.com:

Walmart, which owns local ecommerce firm Flipkart, said its international business growth was driven by Flipkart, China, and Walmex, without disclosing specific contributions. The Bentonville-based retailer also said in its second-quarter earnings for FY25 that its advertising business grew 23%, led by Flipkart and Walmex.

Walmart recorded nearly $30 billion in net sales from international markets–a growth of 8.3% on year. Walmart also reported an operating income of $1.4 billion for the quarter under review.

“Operating income growth led by Flipkart, China, and Walmex…. benefited from lower losses in ecommerce across markets..,” a presentation from the Flipkart owner showed on Thursday.

Walmex is the Mexican business of Walmart.

In June Walmart CFO David Rainy had said Flipkart’s bottomline in the ecommerce segment has been improving and that this “gives us a lot of confidence in what the overall financial profile of this business will look like a few years from now”.
He had said Flipkart’s profitability would determine the timing of its IPO.
For Walmart, its ecommerce operations grew 22% in the US. Walmart reported a 5% jump in its overall sales at over $169 billion for the quarter under review.

In May, Flipkart closed a funding round of about $1 billion that included$350 million from Alphabet-controlled Google. The etailer has now entered the quick delivery sector with ‘Minutes’ starting from Bengaluru.
ET reported on July 15 saying it plans to have 100 dark stores in operation by Diwali when quick delivery