Walmart’s advertising business soars 130% to reach $2.1 billion

Photo caption: Walmart is going beyond retail, into advertising, to diversify its business. Robyn Beck / Agence France-Presse / Getty Images. Article by Tonya Garcia. Market Watch – February 17, 2022.

Walmart is part of a growing list of retailers, including Amazon and Best Buy, that have launched advertising businesses

Walmart Inc. said Thursday that its advertising business, Walmart Connect, has soared 130% over the past year, reaching $2.1 billion. Walmart WMT, +4.01% Chief Executive Doug McMillon noted that advertising is a “high margin” business that will continue to grow alongside the retail giant’s Marketplace arm to eventually “become a top 10 ad business in the mid-term.” […]

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