Walmart is set to report quarterly earnings, reflecting U.S. consumer response to President Trump’s tariffs. Analysts expect earnings per share of 74 cents and revenue of $176.16 billion. Walmart’s net sales are projected to grow 3.5% to 4.5% for the fiscal second quarter, but earnings guidance is uncertain due to changing tariff policies.

Chief Financial Officer John David Rainey expressed concern over the impact of tariffs on prices, as Walmart imports about a third of its products from China, Mexico, Canada, Vietnam, and India. Despite price increases on items like frying pans and jeans, Walmart has maintained its competitive edge by emphasizing value, fast deliveries, and attracting higher-income customers.

Walmart faced criticism from President Trump for raising prices due to tariffs, with some items already seeing price hikes on shelves. However, Walmart has managed to outperform retail competitors, posting its first profitable quarter for its e-commerce business. The company’s online revenue has increased, driven by advertising and commissions from third-party sellers.

Read more at CNBC: Walmart (WMT) Q2 2026 earnings