For the first time ever, e-commerce giant Amazon (AMZN) has surpassed discount retailer Walmart (WMT) in terms of quarterly revenue generated.
Amazon reported fourth-quarter 2024 revenue of $187.80 billion U.S., which beat Walmart’s sales for the same period that totaled $180.50 billion U.S.
Since 2012, Walmart has been the top revenue generator among publicly listed U.S. companies, a title it won after overtaking oil giant Exxon Mobil (XOM) in terms of sales.
While Walmart may have lost its crown when it comes to quarterly sales, the company still leads in annual sales.
Walmart has forecast total sales this year of $708.70 billion U.S., while Amazon’s full-year revenue for 2025 is projected at $700.80 billion U.S.
Amazon’s e-commerce business remains its biggest revenue generator, but its sales are also being fueled by its growing cloud computing, advertising and streaming businesses.
Amazon Web Services (AWS), the company’s cloud unit, accounted for nearly 20% of total revenue achieved in 2024.
Meanwhile, Walmart’s discount pricing continues to attract price-conscious consumers. The retailer has also launched an advertising business and a loyalty program called “Walmart+.”
The stock of Amazon has risen 32% over the last 12 months to trade at $222.88 U.S. per share.
Walmart’s stock has gained 68% in the past year to trade at $97.21 U.S. a share.
