- $4 billion was all it took for Amazon to knock Walmart off pole position
- The two companies generated more than $700 billion each in annual revenue
- Amazon is now targeting much higher growth than Walmart
Amazon has officially overtaken Walmart as America’s largest company after a years-long battle, with the ecommerce giant pulling in $717 billion in revenue for 2025, compared with Walmart’s $713 billion.
Though the difference is relatively small, it marks the end of Walmart’s 13-year stint at the top.
While the writing may have been on the wall after Amazon overtook Walmart in quarterly sales in 2025, however, while most of Walmart’s revenue comes from the traditional sales channels, Amazon needed a far more diverse stream of revenues to climb to pole position.
Walmart is no longer the biggest company by revenue
As well as online and physical stores, Amazon’s revenue also came from third-party seller services like fees, fulfilment and ads, and its AWS cloud computing division.
Three of Amazon’s biggest successes came from a 10% rise in North America segment sales, a 13% rise in international segment sales and a 20% increase in AWS segment sales. AWS revenue now accounts for nearly one-fifth (18%) of Amazon’s entire revenue.
On the flip side, nearly all (90%) of Walmart’s sales still come from stores and its website.
In terms of similarities, both companies have implemented their own AI shopping assistants and agents, with Walmart observing that AI-using customers spend around 35% more per order.
With the difference in revenue pretty tight at the moment, Walmart revenue could surge and the American retail giant could once again reach pole position, or Amazon’s growth could continue as US economics enter a new era.
For now, Walmart is targeting a 3.5-4.5% year-over-year growth in net sales next quarter, while Amazon is targeting an 11-15% growth.
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