Walmart CEO Doug McMillon.

Retail multinational Walmart has posted its financial results for the third quarter of this year, showing a 79% year-over-year jump in e-commerce sales as the coronavirus pandemic widely boosted the demand for online purchases and particularly in the US which has had the highest number of recorded cases globally. Walmart doesn’t specifically divulge the sales figures for its e-commerce business but notes its growth figures.

During the quarter, all of Walmart’s operations brought in $134.7 billion in revenue and $5.2 billion in net income. Sales outside the US came at $29.6 billion, a 1.3% growth from the previous year. Walmart’s Indian e-commerce unit, Flipkart, particularly brought in stronger sales compared to the previous year as it pulled in a record number of monthly active shoppers. 

Walmart’s e-commerce growth is similar to that of its main rival, Amazon, which posted a 37% year-over-year revenue jump to $96 billion and pulled in a record $6.3 billion in net income in the third quarter of this year. Although Walmart’s 79% growth rate is much higher than Amazon’s 37%, Amazon pulls in much more revenue from its e-commerce operations than Walmart, whose main business lies in brick-and-mortar retail. 

Walmart got into the e-commerce game quite late in 2007 and has played catch-up with Amazon in that space ever since. On the other hand, the company’s brick-and-mortar operations have remained strong and regularly brought in hundreds of billions of dollars in revenue.

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