Amazon Tops Walmart with $640.6B in 2025 Sales on 25% Marketplace Growth
Amazon reported $640.6 billion in fiscal 2025 net sales, overtaking Walmart’s $622.3 billion for the first time, powered by a 25% year-over-year increase in third-party marketplace revenue. Walmart, however, still leads in U.S. grocery with $250 billion in annual sales and maintains higher operating margins.
1. Amazon Surpasses Walmart in Total Sales
In fiscal 2025 Amazon achieved $640.6 billion in net sales, surpassing Walmart’s $622.3 billion figure and marking the first time Amazon has led global retail revenue. Strong growth in its third-party marketplace and a 22% increase in North American retail sales were key contributors to this milestone.
2. Walmart’s Structural Advantages Persist
Despite trailing in headline sales, Walmart’s brick-and-mortar network and grocery business generated $250 billion in U.S. grocery sales and delivered higher operating margins of 5.2% versus Amazon’s 4.1%. International operations and in-store services continue to underpin Walmart’s profitability and competitive positioning.