Amazon beats out Walmart for No. 1 company on Fortune 500
Amazon has claimed the top spot on the Fortune 500, ending Walmart's 13-year reign as the highest-earning U.S. company. The online retailer achieved over $700 billion in revenue last year, marking a 12% increase. This shift reflects changing consumer preferences and technological advancements in the retail sector.
- ▪Amazon surpassed Walmart to become the highest-earning U.S. company on the Fortune 500 list.
- ▪The company reported over $700 billion in revenue last year, a 12% increase from the previous year.
- ▪This marks the first time since 2012 that Walmart has not held the top position on the list.
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Amazon placed No. 1 on the Fortune 500 ranking on Wednesday, overtaking Walmart’s 13-year streak as the highest-earning U.S. company. The online retailing giant surpassed $700 billion in revenue last year, with a 12% year-over-year increase, according to the annual list that ranks America’s 500 largest companies by total revenue for the previous fiscal year. Recommended Stories Main Street wins: Fox Business rewards top small businesses for America’s 250th AI giant Anthropic files to go public SpaceX launches extra powerful Super Heavy-Starship test flight as company races toward IPO Amazon’s two-decade rise to the top of the Fortune 500 is the result of a dramatic shift in consumer preferences due to technological change.
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