Amazon set to pass Walmart in revenue for the first time

Amazon Long ago it went Walmart In terms of market capital, but the e-commerce giant is finally ready to jump from his brick and mortar rival with another key meter: Revenue.

For the past dozen years, Walmart had the distinction of being the top revenue generator every quarter. In 2012 it overtook the oil giant Exxon mobileAccording to LSEG Senior Research Analyst Tajinder Dhillon.

Walmart remained at the forefront after oil prices tumbled in subsequent years from their previous high levels of more than $ 100 per day. Barrel.

In its earnings release after the end of trading on Thursday, Amazon is expected to report a turnover of $ 187 billion, according to analysts investigated by LSEG. Walmart reports on February 20th and is expected to announce a $ 180 billion sale.

Walmart, often called the world’s largest dealer, with reference to its revenue, still leads when it comes to an annual sale. The company has filed more than $ 600 billion in sales in each of the last two years. This number is expected to reach nearly $ 681 billion for the most recent financial year.

Amazon catches up. Based on estimates in the fourth quarter, Amazon’s entire annual revenue for 2024 will enter around $ 638 billion, marking the first time it surpasses the $ 600 billion milestone.

A major reason why Amazon has recorded the charts is its cloud business, Amazon Web Services. Revenue at AWS has more than doubled since 2020 and now accounts for approx. 17% of total sales.

Covid pandemic also changed dramatic consumer behavior towards online shopping, which has helped Amazon’s annual sales of North America to rise more than 100% since 2019, the year before the pandemic.

Very few companies even reach $ 100 billion in revenue in a quarter. In addition to Walmart and Amazon, Apple Has done it, but only in the holiday quarter, its most important iPhone sale period. Last week, Apple reported revenue for the last quarter of $ 124 billion.

The newest member of the exclusive club of $ 100 billion is UnitedHealthwho saw its top line climb past this brand in the first quarter last year and then again in third and fourth quarters.

The two companies closest to joining the group, with a little bit of growth, are CVS Health and McKesson. CVS exceeded $ 95 billion in revenue in the September quarter, while McKesson hit $ 94 billion.