Amazon set to pass Walmart in revenue for first time

Group 1 - Amazon is expected to report revenue of $187 billion, while Walmart is projected to announce sales of$180 billion, marking a significant shift in revenue leadership [3] - Walmart has maintained over $600 billion in annual sales for the past two years, with projections for the latest fiscal year reaching nearly$681 billion [4] - Amazon's full year revenue for 2024 is estimated to be around $638 billion, surpassing the$600 billion milestone for the first time [4] Group 2 - Amazon's growth is significantly attributed to its cloud business, Amazon Web Services (AWS), which has more than doubled in revenue since 2020 and now accounts for about 17% of total sales [5] - The Covid pandemic has dramatically changed consumer behavior, leading to over 100% increase in Amazon's annual North America sales since 2019 [5] - Very few companies have reached $100 billion in revenue in a quarter, with Amazon and Walmart being among them, alongside Apple and UnitedHealth [6]