Amazon Overtakes Walmart as World’s Largest Company by Revenue

Amazon becomes the world’s largest company by sales, overtaking Walmart as shifting retail, cloud computing, and digital advertising revenues reshape global corporate rankings.

In a milestone moment for global business, Amazon has surpassed Walmart to become the world’s top company by annual revenue — ending Walmart’s long-held position as the No. 1 revenue-generating company for more than a decade.

According to the latest financial results published this week, Amazon reported approximately $716.9 billion in total revenue for the year ending Dec. 31, 2025, narrowly edging out Walmart’s $713.2 billion in sales for the 12 months ending Jan. 31, 2026. The shift reflects Amazon’s accelerating growth across retail, cloud computing, advertising, and digital services.

A Historic Shift in Corporate Rankings

For decades, Walmart — the Bentonville, Arkansas-based retail giant — was a fixture atop lists of the world’s largest companies by revenue, routinely leading the Fortune 500. This week’s figures represent a significant change in that landscape. On Thursday, Amazon’s annual revenue tally officially surpassed Walmart’s, marking the first time the e-commerce and technology powerhouse has claimed the top spot.

Analysts note that Amazon’s diversified business model — which includes not only e-commerce, but also Amazon Web Services (AWS), advertising, and subscription services — has played a crucial role in driving revenue growth at a faster pace than Walmart’s traditional retail operations. AWS alone contributed a substantial portion of Amazon’s revenue, according to industry commentary.

What This Means for Retail and Technology

Amazon’s overtaking of Walmart underscores the transformation of the modern retail and corporate economy, where digital platforms and cloud services have become central growth drivers. While Walmart continues to grow its own e-commerce footprint and posted record revenues of its own, the combination of online retail expansion and high-margin digital services helped push Amazon ahead.

Industry observers also point out that Walmart’s core strength remains physical retail and grocery leadership, supported by a vast network of stores and continued growth in online sales. However, the rapid rise of cloud computing and digital advertising has tipped the broader revenue scales in Amazon’s favor.

Leadership and Strategic Focus

Walmart, under its new CEO John Furner — who took the helm earlier this year — has emphasized technology investments and omnichannel operations as strategic priorities, even as the company conceded the revenue crown. Recent earnings reports show continued sales momentum in key segments such as e-commerce and grocery, as well as innovations in customer engagement tools.

Meanwhile, Amazon continues to invest heavily in technology infrastructure, logistics, and artificial intelligence — areas seen as crucial for long-term growth. Although some market observers have noted pullbacks in Amazon’s stock performance this year, the company’s revenue lead signals strength in its diversified business model.

Broader Industry Implications

The shift in revenue leadership reflects broader changes in consumer behavior and corporate strategy. E-commerce penetration continues to rise, and digital services such as cloud computing have become highly lucrative segments for large technology firms. As retailers evolve into integrated commerce and tech platforms, traditional distinctions between “retail” and “technology” companies are increasingly blurred.

For the global business landscape, Amazon’s ascension signifies the growing importance of digital ecosystems and data-driven services as engines of corporate scale and profitability.