Walmart Connect growth slows by 14 percent points

Shalaka Shinde

This report summarizes the advertising trends reported by Walmart in its Q1 FY2025 earnings report.

The year-on-year growth in advertising income of Walmart Connect, Walmart’s advertising wing, slowed down in the first quarter of its fiscal year. The retail giant released its quarterly earnings in April 2024 and reported a growth of 26% in Q1 FY25 (52-week period ending on 28 January, 2025) compared to over 40% in Q1 FY24. In turn, the advertising growth as a whole also slowed down in the quarter.

Walmart’s global advertising business grew by 24% and includes countries like India (Flipkart), China, and Mexico. Its US ad business grew by 26%, led by an increased number of...

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