Walmart to Shift Listing to Nasdaq as Retailer Reports 3rd Quarter Growth

Walmart’s steady growth results come after other major retailer Target reported a drop in third-quarter sales amid slowing consumer traffic.

Customers shop at a Walmart store in Chicago, Ill., on May 18, 2023. Scott Olson/Getty Images

Retail giant Walmart has reported higher sales and continued gains in its e-commerce and advertising businesses in the third quarter, while also announcing plans to transfer its stock exchange listing from the New York Stock Exchange to the Nasdaq next month.

The company said on Nov. 20 that both decisions reflect a long-term strategy that leans heavily on technology, automation, and faster online fulfilment.

Walmart said its total revenue rose 5.8 percent in the quarter ending Oct. 31, driven by higher transactions and solid performance across major markets. Operating income was up 0.2 percent, or 8 percent on an adjusted constant-currency basis.

With one quarter left until the end of the year, the company said it continued to “show up for customers and members, providing value and convenience,” adding that its competitive advantages enabled consistent sales momentum.

“We grew sales, while driving growth in our higher-margin businesses, such as advertising,” Walmart said in the earnings release on Thursday.

It added that investments were focused on strengthening its “tech-powered omnichannel innovation” to improve both customer and member experience.

The retailer said returns also strengthened. Return on assets reached 8.4 percent, while return on investment rose to nearly 14.8 percent.

Walmart’s steady growth results come after other major retailer Target reported on Nov. 19 a drop in third-quarter sales amid slowing consumer traffic.

Move to Nasdaq

In a separate announcement on Thursday, Walmart said it would transfer its stock exchange listing from the New York Stock Exchange to the Nasdaq, effective Dec. 9. Its ticker symbol will remain “WMT.”

The company will also transfer the listing of nine outstanding bonds to Nasdaq, according to the statement. The move reflects Walmart’s broader technology ambitions, according to the company’s Chief Financial Officer John David Rainey.

“Moving to Nasdaq aligns with the people-led, tech-powered approach to our long-term strategy. Walmart is setting a new standard for omnichannel retail by integrating automation and AI to build smarter, faster, and more connected experiences for customers, while enabling our associates to deliver even greater value at scale,” Rainey said.

He added that the company appreciated its long partnership with the NYSE, but is “excited about partnering with Nasdaq on this next chapter.”

Rainey said the decision highlights shared values between the retailer and the Nasdaq, including an emphasis on technology, client value, and innovation. Nasdaq’s Global Select Market is known for listing many of the world’s largest tech-driven corporations.

E-commerce Surges

Walmart operates more than 10,750 stores worldwide and serves roughly 270 million customers each week. The company posted $681 billion in revenue in fiscal 2025 and employs about 2.1 million people globally.

Global e-commerce revenue grew 27 percent in the quarter, while global advertising revenue was up 53 percent, including the contribution from Vizio, with Walmart Connect in the United States growing 33 percent.

The company’s U.S. e-commerce sales rose 28 percent, marking the seventh straight quarter of growth above 20 percent.

A major driver was store-fulfilled delivery, with sales from fast-delivery options up nearly 70 percent from last year.

Walmart’s membership-based warehouse retail chain, Sam’s Club, recorded 22 percent growth in U.S. e-commerce, supported by strong demand for curbside pickup and delivery from clubs.

Walmart said more members used these digital tools and engaged more often during the quarter.