# Flipkart Ads drive 20% advertising growth at Walmart in Q2 FY27
2026-08-20T20:21:31+00:00 | Business & Economy | Indian Opinion Desk
Corroboration: 2 independent outlets
Walmart reported that its advertising business grew 20% year-on-year in the second quarter of FY27 (ending July 2026), led by Flipkart Ads. The global retail giant said Flipkart’s advertising vertical propelled the growth of its high-margin ad business, which overall rose 38% globally during the quarter, according to inc42.com. Walmart International’s net sales reached $35.2 billion, up 12.8% from the previous year. Operating income at Walmart International rose 16.6% on a constant currency basis to $1.4 billion, driven primarily by India and China, retail.economictimes.indiatimes.com reported. The company attributed this to lower losses in ecommerce and business mix changes across markets. However, for the third quarter, Walmart expects a headwind of over 100 basis points to sales growth due to a timing shift of Flipkart’s flagship Big Billion Days sale between Q3 and Q4. Flipkart is expanding its quick commerce arm Flipkart Minutes, which crossed 1,000 dark stores in June and plans to reach about 1,500 in the coming months. The ecommerce major has also put its IPO plans on hold till at least next year, focusing on profitability improvement before going public.
## Indian Opinion Analysis
SOURCE-2 (retail.economictimes.indiatimes.com) estimated Walmart International’s Q2 FY27 operating income at $1.4 billion (constant currency), up 16.6% year-on-year, attributing growth to lower losses in ecommerce, while SOURCE-1 (inc42.com) reported operating income growth of 28.8% overall without specifying currency basis. Both sources confirm Flipkart Ads led Walmart’s global advertising business growth of 20% year-on-year. SOURCE-2 provides more detail on Flipkart’s quick commerce expansion (1,000 dark stores by June, target of 1,500 soon) and its omni-channel structure (Flipkart, Myntra), while SOURCE-1 focuses on Flipkart’s IPO delay and a potential food delivery launch. The gap in reported operating income percentage likely stems from different currency treatments. A careful reading suggests Walmart International’s core operating income rose 16.6% on a constant currency basis, while the parent company’s global figure saw 28.8% growth. Both numbers can be accurate but describe different scopes. The key watch point is Q3: a planned 100 bps headwind from the Big Billion Days shift, which investors will track closely.
## Coverage
Coverage: 2 sources, 2 neutral
- inc42.com (neutral report)
Led with the positive ad growth and IPO context, less detail on operating income specifics
- retail.economictimes.indiatimes.com (neutral report)
Led with the Q3 headwind and provided more granular operating income and quick commerce data
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources. Last updated 2026-08-21T08:10:54+00:00.
Tags: Big Billion Days, Flipkart, Walmart
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