MEXICO CITY (Reuters) -Walmart's Mexico and Central America unit reported a 10% dip in its second-quarter net profit on Wednesday, coming in at 11.23 billion Mexican pesos ($598 million) and below analysts' forecasts of nearly 13 billion, even as revenues grew.

Revenues for the quarter were up 8% from the same quarter in 2024 to reach 246.25 billion pesos, a touch above the 246.07-billion-peso forecast of analysts polled by LSEG.

"We are starting to see a gradual pickup in sales. However, the recovery has been slower than expected with consumer confidence having mixed results in the quarter and with uncertainty still present," Walmex Chief Executive Officer Ignacio Caride said in a presentation of the results.

"I am happy about the progress of our strategy even though I'm not happy with our current results," Caride said.

In a statement, the company said it was seeing a slower-than-expected recovery in consumption, but saw no fundamental change in its full-year expectations and reiterated its forecast of 6% to 7% growth in consolidated revenue for 2025.

($1 = 18.7654 Mexican pesos at end-June)