Walmart's global ad business gets boost from Flipkart
US-based global retail business Walmart saw its Indian e-commerce marketplace Flipkart's performance drive its international advertising business growth in its financial quarter ending on April 30. Global advertising business was up by 20% during the quarter as net sales also increased.
During the 2024 fiscal year, Flipkart's marketplace segment Flipkart Internet reported advertising revenue close to Rs 5,000 crore, ET Tech reported. This figure was greater than the Rs 3,734 crore the business reported that it had generated in marketplace fees.
For its February to April 2025 quarter, Walmart saw its net sales reach $32.1 billion, signifying a year on year jump of 7.8% on a constant currency basis, ET Bureau reported. Along with the growth fuelled by Flipkart, Walmart's China business and Walmex, which operates in Central America and Mexico, also boosted performance during the quarter.
Despite the uptick in net sales during the February to April 2025 quarter, Walmart's operating income decreased by 6.4% year on year. The business noted that its investments in Flipkart, Walmex, and its Canada operations were a significant reason for this decline.
Eyeing an initial public offering in 2026, Flipkart's board has approved the domicile relocation from Singapore to India in preparation. The business is also increasing its focus on India's fast growing quick commerce market and is bolstering its logistics to facilitate greater coverage for the service.
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Euronews
an hour ago
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