Seattle-based Amazon has overtaken Walmart to become the largest company in the United States by annual revenue, marking a historic milestone in the highly competitive retail and technology industries.
According to the latest financial data, Amazon reported $716.9 billion in revenue for its most recent fiscal year, narrowly edging out Walmart’s $713.2 billion. This shift ends Walmart’s years-long hold on the top spot, a position it maintained for over a decade.
Amazon’s growth reflects a diversified business model that goes beyond traditional e-commerce. In addition to online sales, substantial revenue now comes from its cloud computing arm, Amazon Web Services (AWS), its advertising business, and services for third-party sellers. These non-retail segments have helped fuel the company’s expansion.
Walmart, long considered the world’s biggest retailer, continues to be a dominant force in physical retail and grocery sales. The company has also been increasing its digital footprint and online offerings, but its overall revenue growth has lagged compared to Amazon in recent years.
Analysts say the milestone is significant symbolically, showing how consumer preferences and technology have reshaped the retail landscape. Amazon’s investment in fast delivery, cloud technology, and digital services has contributed to sustained revenue growth, ultimately allowing it to surpass its longtime rival.
