Walmart reported strong growth across its business in the second quarter of fiscal 2025, ended July 26, 2024. The retailer raised its third-quarter guidance and full-year outlook due to increases in total revenue, e-commerce sales, membership and the Walmart Connect advertising business.

The company’s consolidated sales amounted to 169.3 billion US dollars for the quarter reflects a 4.8% Increase compared to the same quarter last year. E-commerce penetration improved by double-digit amounts, including a 21% Increase in online sales worldwide and growth of 22% Comp sales also rose in the USA 4.2%.

The retailer also posted Share gains across all income groups, driven primarily by “higher income households” (referred to as those who earn more than 100,000 US dollars annually). These wealthy shoppers in particular were attracted to the Walmart+ subscription, which offers 16% Increase in membership this quarter.

Walmart’s retail media network Walmart Connect also saw massive growth, with advertising revenue increasing 30% in the US, driven primarily by “strong growth in the number of advertisers, including marketplace sellers.” Worldwide, the company’s advertising business grew 23%led by Flipkart in India and Walmex in Mexico and Central America.

“Every part of our business is growing — store and club sales are increasing, e-commerce is growing as we build in pickup, and delivery is growing even faster as our velocity increases,” Walmart President and CEO Doug McMillon said in a statement. “Our newer businesses like marketplace, advertising and membership are also contributing, diversifying our profits and building the resilience of our business model.”

In an interview with CNBCJohn David Rainey, CFO of Walmart, said that from his point of view the back-to-school season has “started pretty well.”

Rainey added: “We see our members and customers remaining selective, discerning and value-driven, focusing on things like essentials rather than luxury items. We see no additional impact on consumer health.”