Second Quarter Highlights • Consolidated revenue of $161.6 billion, up 5.7%, or 5.4% in constant currency (“cc”)1 • Consolidated gross margin rate up 50bps on lapping elevated markdowns and supply chain costs, partially offset by ongoing mix pressure in grocery and health & wellness • Consolidated operating expenses as a percentage of net sales grew 33bps • Consolidated operating income up $0.5 billion, or 6.7%, adjusted operating income up 8.1%

While Walmart contends with rising costs related to tariffs, its second quarter revenue grew 4.8% year over year to $177.4 billion, the company announced Thursday. In the U.S., Walmart’s net sales also improved 4.8%, reaching $120.9 billion, while comps were up 4.6%. The impact of tariffs remained the topic of conversation during Walmart’s Q2 earnings call. “With regard to our U.S. pricing decisions, given tariff-related cost pressures, we’re doing what we said we would do,” Walmart President and CEO Doug McMillon told analysts on a call Thursday. “We’re keeping our prices as low as we can for as long as we can. Our merchants have been creative and acted with urgency to avoid what would have been additional pressure for our customers and members.” Though the impact of tariffs “has been gradual enough that any behavioral adjustments by the customer have been somewhat muted,”

Fourth-quarter service performance for July 1 through July 23 included: *First-Class Mail: Delivered 89.3 percent of First-Class Mail on time against the USPS service standard, an improvement of nearly 2 percentage points from the third quarter. *Marketing Mail: Delivered 92.4 percent of Marketing Mail on time against the USPS service standard, an improvement of 1.4 percentage points from the third quarter. *Periodicals: Delivered 82.8 percent of Periodicals on time against the USPS service standard, an improvement of 3.6 percentage points from the third quarter.