Walmart Finance Chief Expects India's Flipkart, PhonePe To Be Worth $100B Businesses
Portfolio Pulse from Anusuya Lahiri
Walmart CFO John David Rainey expects India's Flipkart and PhonePe to reach $100 billion in value, driving the company's goal to double its gross merchandise volume in foreign markets to $200 billion in five years. Flipkart generated double-digit sales growth in the recent quarter, while PhonePe hit an annualized payment value of $1 trillion.
June 15, 2023 | 11:39 am
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Walmart expects Flipkart and PhonePe to reach $100 billion in value, contributing to the company's goal of doubling its foreign market GMV to $200 billion in five years.
Walmart's CFO expressed confidence in the growth potential of Flipkart and PhonePe, which are expected to reach a combined value of $100 billion. This growth will contribute to Walmart's goal of doubling its gross merchandise volume in foreign markets to $200 billion in five years. The strong performance of these businesses is likely to have a positive impact on Walmart's stock price in the short term.
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