Walmart Q2 FY2027: Revenue and EPS Beat, US Same-Store Sales Slowest in Six Years

The headline beat masks a divergence: Walmart's raised guidance still caps adjusted EPS below consensus, so the profit outlook is being trimmed even as revenue holds. The drag is pharmacy price deflation, a structural pricing effect rather than a demand problem, which makes the 2.6% same-store figure less alarming than the six-year low suggests. The open question is whether pharmacy deflation keeps suppressing reported comps, or whether underlying traffic and general merchandise offset it in coming quarters.