According to Yahoo Finance Morning Brief, the results posted by Amazon last week mean that Amazon overtakes Walmart on a revenue basis.
This impressive result is based on declared results from Amazon last week, compared with projected results from Walmart. We will know for sure whether this has come to pass when Walmart announce their results on 20th Feb, but analysts appear to agree that this landmark moment has arrived.
Amazon’s market capitalisation overtook Walmart’s in 2015, and their net income did the same in 2020. Amazon’s net income has shot further ahead of Walmart’s with Amazon’s profitability drive in the last couple of years. However, the switch in revenue is new news.
The news follows Amazon’s results announcement last week, which showed a strong Q4 performance with sales growing 10% year on year. Amazon’s growth projections for Q1 2025 have disappointed some analysts, but at 5-9% growth, still represent strong growth opportunities for our clients.