“The future is fast, convenient and personalized,” Walmart’s brand new CEO John Furner said in a statement. Income statement Released Thursday morning. And the company’s latest results show the entire organization leaning strongly towards this vision with significant results.

In the quarter ended Jan. 31, Walmart had revenue of about $191 billion, up about 5.6 percent year over year. Operating income grew even faster, with 10% growth to nearly $9 billion. Earnings per share fell on a GAAP basis, but rose on an adjusted basis, suggesting that Walmart’s increased focus on margins is paying off. More evidence: Full-year results show similar behavior, with revenue up nearly 5%, up $32 billion from last year.

Amazon could be. Just overtook Walmart as the world’s largest company by revenue. — a niche that Walmart occupied for a decade — but Walmart is now playing a different game. Its scale is mind-boggling, but the battle for scale has long been won. The focus now is profit, even more so in an era in which Big Tech margins have effectively set the standard, and Walmart’s entry into the brave new world of AI-inspired retailing. And it’s becoming clearer and clearer that Walmart is effectively delivering on those ambitions.

Global e-commerce sales A 24 percent increase In the fourth quarter, led by in-store pickup and delivery and a rapidly expanding marketplace. In the U.S., comparable sales rose 4.6 percent, with digital contributing nearly 520 basis points to cumulative growth. Advertising also continues to be a meaningful profit engine, with Walmart Connect sales up 41% in the U.S., helping to boost global advertising revenue by 37% in the quarter. Overall, margins continue to rise — a sign that Walmart’s e-commerce economics are improving after years of heavy investment.

Yet more evidence? Walmart’s guidance It targets a similar margin gain for its fiscal year 2027, while the company continues to buy back stock with a $30 billion share repurchase program.

Amazon can now wear the revenue crown. But Walmart is doing something much more interesting: tilting at a new series of windmills and rewriting the terms of its success. This may suggest more than anything else that the brave new world of retailing has already arrived.