For the first time ever, Amazon has surpassed Walmart in quarterly revenue, marking a major milestone in the retail wars. Walmart, which has held the top spot since surpassing Exxon Mobil in 2012, just got outpaced by Bezos’ baby.
The deets: in Q4 FY24, Amazon pulled in $187.8 billion, edging past Walmart’s $180.5 billion. However, on an annual basis, Walmart is still in the lead, projected to generate $708.7 billion next year, with Amazon close behind at $700.8 billion. The gap is narrowing fast.
How did we get here: Amazon’s revenue story goes beyond retail. While its e-commerce empire remains the core driver, its cloud computing business, AWS, now contributes 17% of total revenue. Another 17% comes from seller services and advertising, making it a well-diversified revenue machine.
Zoom out: meanwhile, Walmart isn’t sitting still. It’s been taking cues from Amazon, launching Walmart+ to rival Prime and expanding its third-party marketplace and seller services. The retailer is betting on these strategies to keep shoppers locked in and drive long-term growth.
The battle for retail dominance is heating up, and while Amazon has won this round, Walmart isn’t backing down just yet.
