Key Takeaways

• Amazon has emerged as the world’s largest company by revenue for fiscal 2025, reporting $717 billion.
• The growth of Amazon’s revenue, particularly from Amazon Web Services (AWS), has surpassed Walmart’s, which reported $713.2 billion.
• Amazon’s success highlights a shift towards e-commerce and essential digital infrastructure, areas where Walmart is less involved.

Amazon Surpasses Walmart in Revenue

Amazon has officially become the largest company globally by revenue, surpassing Walmart. For fiscal 2025, Amazon’s sales reached $717 billion, slightly edging out Walmart’s $713.2 billion for the 12-month period ending January 31. This marks a significant moment for Amazon, which has seen its revenue growth outpace Walmart’s by nearly tenfold over the past decade.

The substantial increase in Amazon’s revenue can largely be attributed to the expansion of its online retail platform, alongside the exponential growth of its cloud computing division, Amazon Web Services (AWS). According to reports, Amazon’s website and mobile apps attract about 2.7 billion visits each month, illustrating its massive consumer reach. In contrast, Walmart continues to operate over 10,000 physical stores worldwide.

However, it’s worth noting that without the revenue generated by AWS, Amazon’s total for 2025 would have been approximately $588 billion, still falling short of Walmart’s. This indicates that while Amazon’s overall sales figures are impressive, its cloud computing services play a critical role in bolstering its financials.

This transition underscores a broader structural shift in the market toward e-commerce and the rising importance of cloud computing and data infrastructure in an increasingly digital and AI-driven economy. These areas of growth are not where Walmart currently competes, which may have implications for its future performance.

While Amazon has taken the lead in terms of revenue, it does not correlate directly with market value. NVIDIA currently holds the top spot in market capitalization at $4.5 trillion, which is more than double Amazon’s estimated worth. Thus, while Amazon’s revenue figures are noteworthy, its position in the market hierarchy, in terms of capitalization, illustrates a different narrative.

Overall, Amazon’s achievement is a testament to its strategic direction and adaptability in an evolving consumer landscape. The company’s focus on innovation in both retail and cloud services positions it strongly for future growth, contrasting with Walmart’s reliance on traditional retail operations.

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