Amazon Record-Breaking Quarter Puts It Ahead of Walmart For the first time in history, Amazon (NASDAQ:AMZN) has overtaken Walmart (NYSE:WMT) in quarterly revenue, marking a significant shift in the retail landscape. Walmart, which has consistently held the top spot for quarterly revenue since 2012, reported Q4 2024 earnings of $180.55 billion. Meanwhile, Amazon reported fourth-quarter revenue of $187.79 billion, officially surpassing its biggest retail rival.
Annual Sales Leadership Still Belongs to Walmart Despite Amazon’s milestone, Walmart is still projected to maintain its dominance in annual revenue. Analysts estimate Walmart’s revenue for the current fiscal year at $703.02 billion, slightly ahead of Amazon’s projected $699.19 billion. The competition between these two retail giants continues to intensify as they expand their revenue streams beyond traditional retail operations.
Diversified Business Models Fuel Growth Amazon’s success is largely attributed to its diversified business model. While its core e-commerce business remains the foundation, the company’s cloud computing unit, Amazon Web Services (AWS), and its booming online advertising segment have significantly contributed to its revenue surge.
On the other hand, Walmart has been focusing on enhancing its omnichannel strategy, seamlessly integrating physical and digital shopping experiences. Additionally, Walmart’s advertising business has seen notable growth, further diversifying its revenue streams.
Neil Saunders, managing director of GlobalData Retail, emphasized Amazon’s strategy, stating, “This all-rounded approach—where retail is at the heart of the business, but other things generate revenue around it—has been really successful. It’s been an exemplar for other retailers to copy.”
Quarterly Revenue Comparison: Amazon vs. Walmart A look at recent quarterly earnings highlights the evolving competition between these retail giants:
- Amazon Q4 2024 Revenue: $187.79 billion
- Walmart Q4 2024 Revenue: $180.55 billion
With both companies leveraging technology, expanding revenue streams, and refining customer engagement strategies, the battle for retail dominance is far from over. Amazon’s ability to surpass Walmart in quarterly sales sets the stage for even greater competition in the years ahead.
