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SUMMARY
Walmart’s international business saw a sharp drop in profit in the September (Q3 FY26) quarter after it booked a $700 Mn non-cash, share-based compensation charge tied to PhonePe’s upcoming IPO
In its post earnings call, the retail giant’s CFO John David Rainey explained that the expense stemmed from a revaluation of share-based compensation in its Indian fintech subsidiary in the run up to its IPO
For the quarter ended September 2026, Walmart International’s operating income…
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