Walmart (WMT) Q4-26 earnings: Ads hit 33% of profits & e-commerce margin inflection

Walmart's Q4 2026 results prove the physical retail giant is quietly transforming into a high-margin digital platform, even as its core shopper feels the pinch. In ~10 minutes:- Ads and memberships now drive ~33% of operating profit.- E-commerce scales to double-digit incremental margins.- Supply chain automation capex finally peaks.- Why GLP-1 drug users actually boosted fresh food revenue.- The 100 bps regulatory drag hitting pharmacy next year.While the market initially cheered the automation payoff and an AI tool boosting basket sizes by 35%, $WMT shares faded through the day. We unpack the massive internal mix shift, the end of the e-commerce cash burn, and the very real tension between a high-tech platform and a stretched paycheck-to-paycheck consumer. Company: Walmart Inc. (WMT) | Q4 FY2026AI-assisted production. Feedback/ticker requests: https://x.com/EarnUnscripted.