Walmart (NYSE: WMT) delivered another strong quarterly performance, beating expectations for the third quarter of fiscal 2025 and raising its full-year outlook. The retail giant’s performance was driven by strong sales growth across physical and digital channels, supported by value-oriented consumers while weathering inflationary pressures.

The company reported sales of US$169.59 billion, higher than analysts’ expectations of US$167.5 billion. Adjusted earnings per share amounted to US$0.58, beating expectations of US$0.53. Like-for-like sales in the U.S. increased 5.3%, driven by a 3.1% increase in attendance and a 2.1% increase in average tickets. E-commerce sales in the United States increased 22%, reflecting the retailer’s continued success in delivery and pickup services.

“We had a strong quarter and continued our momentum,” Walmart CEO Doug McMillon said. “Our team delivers and delivers on the value and convenience that our customers and members expect from Walmart.”

Walmart’s U.S. operations showed broad-based strength across product categories, with grocery sales up mid-single digits and general merchandise recovering from a long period of weakness. Membership revenue increased by double digits, driven by Walmart+ subscriptions. Meanwhile, global e-commerce sales increased 27%, driven by strong growth in Walmart’s marketplace and store fulfillment.

Internationally, revenue grew 8%, led by India’s Flipkart and Mexico’s Walmex. The company’s advertising business, Walmart Connect, grew 28% worldwide, reflecting the increasing contribution of high-margin digital streams to profitability.

Walmart raised its fiscal 2025 outlook for the third time, citing strong momentum. Net sales are expected to be 4.8% to 5.1%, up from 3.75% to 4.75%. Adjusted operating profit is expected to increase 8.5% to 9.25%, with full-year adjusted earnings per share expected to be between $2.42 and $2.47.

Chief Financial Officer John David Rainey said the holiday season is “off to a strong start” and Walmart expects same-store sales to continue to grow 3% to 4% in the fourth quarter. He added that it has been done.

Following the announcement, Walmart’s stock price rose more than 4%, hitting a new all-time high. The stock is up 65% since the beginning of the year, significantly outperforming the Dow Jones Industrial Average.

The stock is currently trading at $87.25, up 3.73%.