Flipkart, PhonePe MAU at an all-time high in India, says Walmart

Walmart also announced that Flipkart, Canada and Walmex enabled it to chart a strong growth internationally despite the pandemic.

By: HT TECH
| Updated on: Aug 21 2022, 00:00 IST
FILE PHOTO: Caution tape hangs at the entrance of a temporarily closed Walmart store in Quincy, Massachusetts, U.S., May 5, 2020.   REUTERS/Brian Snyder/File Photo
FILE PHOTO: Caution tape hangs at the entrance of a temporarily closed Walmart store in Quincy, Massachusetts, U.S., May 5, 2020. REUTERS/Brian Snyder/File Photo (REUTERS)

Walmart on Tuesday announced the quarterly earnings report for the third quarter of 2020. In its quarterly report, the global giant said that its e-commerce wing Flipkart and its digital payments platform had strong results for the quarter.

“In India, Flipkart and PhonePe had strong results for the quarter. The number of monthly active customers for these platforms is at an all-time high,” Walmart president and CEO Doug McMillon said during the earnings call.

You may be interested in

MobilesTablets Laptops
7% OFF
Apple iPhone 15 Pro Max
  • Black Titanium
  • 8 GB RAM
  • 256 GB Storage
23% OFF
Samsung Galaxy S23 Ultra 5G
  • Green
  • 12 GB RAM
  • 256 GB Storage
Google Pixel 8 Pro
  • Obsidian
  • 12 GB RAM
  • 128 GB Storage
Apple iPhone 15 Plus
  • Black
  • 6 GB RAM
  • 128 GB Storage

The company also announced that Flipkart, Canada and Walmex enabled it to chart a strong growth internationally despite the pandemic.

Also read
Looking for a smartphone? To check mobile finder click here.

Walmart International net sales were $29.6 billion, an increase of 1.3%. Changes in currency rates negatively affected net sales by approximately $1.1 billion. Excluding currency, net sales would have been $30.6 billion, an increase of 5.0% led by Flipkart, Canada and Walmex. Strong growth in net sales at Flipkart was helped by a record number of monthly active customers,” Walmart wrote in a press release.

“Total revenue was $134.7 billion, an increase of $6.7 billion, or 5.2%. Excluding currency, total revenue would have increased 6.1% to reach $135.8 billion,” the company added.

Overall, Walmart's total revenue stood at $134.7 billion. Its consolidated operating income stood at $5.8 billion in Q3 2020, which is 22.5% more than the last quarter.

Catch all the Latest Tech News, Mobile News, Laptop News, Gaming news, Wearables News , How To News, also keep up with us on Whatsapp channel,Twitter, Facebook, Google News, and Instagram. For our latest videos, subscribe to our YouTube channel.

First Published Date: 17 Nov, 22:14 IST
NEXT ARTICLE BEGINS