Amazon has officially surpassed Walmart to become the largest company in the United States by revenue. According to reports from Fortune, Amazon generated $716.9 billion in revenue during its last fiscal year, edging out Walmart’s $713.2 billion.
Key Drivers of Growth The primary engine behind Amazon’s record-breaking performance is Amazon Web Services (AWS). In 2025, AWS generated $128.7 billion, accounting for nearly 20% of the company’s total revenue.
While Walmart has long held the top spot as the largest retailer, Amazon’s diversified portfolio—combining e-commerce dominance with high-margin cloud computing services—has reshaped the corporate landscape in the U.S.
