Amazon surpasses Walmart in revenue for the first time

Amazon CEO Andy Jassy speaks during the New York Times DealBook Summit in the Appel Room at the Jazz At Lincoln Center in New York City on Nov. 30, 2022. Amazon has dethroned Walmart in quarterly revenue for the first time ever. Amazon said earlier this month that it brought in $187.8 billion in revenue during the fourth quarter. That beat Walmart's sales for the period, which came in at $180.5 billion, the company reported on Thursday. Since 2012, Walmart has held the distinction of being the top revenue generator each quarter, a title it gained after overtaking oil giant Exxon Mobil . Walmart still leads the way in annual sales, though Amazon is gaining ground. Walmart is projected to reel in $708.7 billion in the fiscal year ahead while Amazon's full-year revenue for 2025 is expected to reach $700.8 billion, according to FactSet. Amazon's core retail unit remains its biggest revenue generator, but its top line is also being fueled by its massive cloud computing, advertising and ... Read full article.