Amazon Tops Walmart as World’s Biggest Seller
Amazon has overtaken Walmart to become the world’s largest company by sales, ending Walmart’s 13-year run at the top.
The technology and retail giant reported $717bn in revenue for 2025, edging past Walmart’s $713bn, according to figures released by the US retailer on Thursday.
While both companies compete heavily in consumer retail, Amazon’s faster growth in areas beyond traditional shopping proved decisive. Revenue from cloud computing, advertising and subscriptions helped lift overall sales and push the company ahead.
Founded in 1994 by Jeff Bezos as an online bookstore, Amazon has since expanded into multiple business lines. Its cloud unit, Amazon Web Services, generated nearly $129bn in sales last year, providing computing power, storage and artificial intelligence tools to businesses and governments worldwide. AWS remains Amazon’s most profitable division and plays a major role in balancing thinner margins in retail.
Amazon said about $464bn of its revenue came from online and physical store sales, including transactions by third-party sellers. Advertising and Prime subscriptions together contributed more than $100bn.
Walmart’s business model remains more heavily tied to retail, with over 90% of its revenue coming from its physical stores and online operations.
Despite losing the top sales position, Walmart continues to show strong momentum. The company recently crossed a $1tn market valuation, becoming the first traditional retailer to reach that milestone, and moved its stock listing to the Nasdaq in a bid to highlight its technology ambitions.
The retailer has also benefited from increased spending by middle- and higher-income shoppers seeking lower prices, allowing it to gain market share from rivals such as Target.
Walmart, led by chief executive John Furner, reported a 4.6% rise in US sales in the most recent quarter.
“The pace of change in retail is accelerating,” Furner said in a statement. “Our results show we’re not just adapting to that change, but helping to lead it.”
