Amazon has surpassed Walmart in terms of quarterly revenue for the first time ever, a CNBC report said. According to the report, Walmart said that it earned $180.5 billion during the quarter, while Amazon had earlier this month said that it earned $187.8 billion in the same period.
This has been the first quarter since 2012 where Walmart has not been able to top the list of revenue generators. In 2012, Walmart had overtaken oil giant Exxon Mobil and gained the title of top revenue generator each quarter.
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Quoting FactSet, the report suggested that Walmart is still ahead in annual sales and is expected to earn $708.7 billion in the fiscal year ahead. Amazon, on the other hand, is expected to reach $700.8 billion for the year 2025.
Although Amazon’s revenue generation can be attributed to the massive cloud computing, advertising and seller services businesses, its biggest revenue generator is still its retail unit.
Last year, as per the CNBC report, 24.5% of Amazon’s total sales were made up of third-party seller services, which cover commissions and fees for fulfillment, shipping, advertising, and customer support. Meanwhile, Amazon Web Services contributed almost 17%.
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Amazon’s operating income increased to $21.2 billion in the fourth quarter of 2024, compared with $13.2 billion in fourth quarter 2023.
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