"Amazon surpassing Walmart in annual revenue sharpens an already intense rivalry between the two retail giants. It also marks a symbolic shift in the balance of power between the two companies, underscoring how a business once defined by e-commerce has evolved into a sprawling tech and services giant. The milestone reflects not only Amazon's retail scale, but also the growing weight of its cloud computing, advertising and third-party seller ecosystem - businesses that have helped fuel faster growth than its brick-and-mortar rival."
"Amazon said earlier this month that it brought in $716.9 billion in revenue for 2025. That beat Walmart's sales last year, which came in at $713.2 billion, the company reported on Thursday. Walmart has topped the Fortune 500 list, which ranks the biggest U.S. companies by revenue, for the last 13 years, according to the magazine's annual rankings. Now, it looks like the No. 1 spot belongs to the brick-and-mortar's biggest rival."
Amazon reported $716.9 billion in revenue for 2025, exceeding Walmart's $713.2 billion in annual sales and surpassing Walmart in total revenue. Walmart had led the Fortune 500 rankings for 13 consecutive years and held the top spot for fiscal 2024 with $681 billion, while Amazon was second at $638 billion. Amazon's expansion into cloud computing, advertising and third-party seller services has driven faster, higher-margin growth beyond its retail core. The revenue milestone intensifies the rivalry between the two companies and raises questions about Walmart's ability to replicate Amazon's tech-and-services transformation.
Read at Digiday
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