Amazon Posts $717B in 2025 Revenue, Surpasses Walmart’s $713.2B
Amazon posted $717B in fiscal 2025 revenue, surpassing Walmart's $713.2B for the 12 months ended Jan. 31. Excluding AWS, revenue would have been $588B, highlighting the $129B cloud unit advantage as e-commerce visits reached 2.7B monthly versus Walmart's 10,000 stores.
1. Revenue Milestone
Amazon achieved $717 billion in fiscal 2025 revenue, overtaking Walmart’s $713.2 billion in sales for the 12 months ended January 31. This marks the first time Amazon has led global retail revenue since its 1994 founding, reflecting its expansion beyond online bookselling.
2. AWS Driving Growth
Without Amazon Web Services, 2025 revenue would have been $588 billion, indicating that AWS generated roughly $129 billion and accounted for nearly 18% of total revenue. The cloud segment’s rapid growth has expanded at nearly ten times the pace of Walmart’s overall sales over the past decade.
3. Digital Versus Physical Footprint
Amazon’s digital platform recorded 2.7 billion monthly visits across website and apps, while Walmart maintains over 10,000 physical stores and clubs worldwide. The contrast highlights Amazon’s online dominance and Walmart’s efforts to boost e-commerce through delivery and tech investments.
4. Investor Implications
Leading in revenue underscores Amazon’s scale and consumer reach but does not guarantee market cap supremacy, as Nvidia holds a $4.5 trillion valuation. The shift emphasizes cloud infrastructure’s role in top-line growth and could prompt analysts to reassess revenue durability in the AI era.