With this purchase, Walmart wants to provide connected television services to its customers and generate new advertising revenue, the group explained in a statement.
Vizio, founded in 2002, provides TV connection services to 18 million users.
“This operation will further boost the activities of Walmart Connect, Walmart’s media arm, in the United States,” the company said.
“This is an attractive division that had global growth of 33% last quarter,” GlobalData’s Neil Saunders highlighted in an analysis note.
With this purchase, Walmart Connect, which provides advertising in stores and on websites, “can enter consumers’ homes on television.”
Walmart reported sales of $648.1 billion in its fiscal year ending in late January, up 6% from the previous year and exceeding its own forecasts.
Profit also increased 33% to $15.51 billion. Per share, that’s a profit of $6.65, up 5.7% from last year.
Walmart is the largest private employer in the United States and closed 2023 with a dynamic fourth quarter, with sales of $173.4 billion, exceeding Wall Street forecasts.
The chain was forced to close dozens of establishments in the United States in 2023, reducing its expenses and focusing on centers with the highest sales volumes to offset losses. In 2022, another group of centers also closed.
Nearly all of the stores closed by Walmart are located in states governed by the far left, where assaults, vandalism and theft have increased significantly due to state laws that benefit crime. For example, in New York, the law protects a criminal from stealing up to $900 and the police are not able to do anything, including arrest him. This has led to a spate of crimes in many states of the country, where there are leftist and extreme leftist governments.
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