Jon Quast

It's a record for the company.

When we think of these huge marketplaces, these huge platforms with large user bases, I don't think Walmart usually comes to mind.

But it is this huge platform with an enormous user base, and this digital business is quite strong.

The big takeaway here is that it's leading to operating income growth that is outpacing revenue growth.

It's subtle, it's kind of small, but at the scale that Walmart is, it matters.

That would be a head-scratcher on all counts, Tyler, if the stock was selling off because it split its stock.

Normally, that gets investors excited these days.

It's a head-scratcher for me.

Well, it's a head-scratcher that they're splitting their stock because the CEO has gone on record before saying that's not really something he was interested in doing, but announcing a 25-for-1 stock split.

The sell-off for the stock is a head-scratcher for me based on the financials.

You look at booking and its growth,

really incredibly strong for a business of this size.

I thought that guidance was even better than the results that it posted.

It's growing where it wants to grow.

You look at how the revenue shakes out across the various segments.

Revenue was down about 7% for the year.

This is basically where it kicks out the users to its partners so that they can book their travel over there.

Merchant revenue for the year was up 25%.

That's what booking really does want.

It wants to keep more of that