Amazon Vs. Walmart: Did Amazon's Q4 Revenue Beat 'The World's Largest Retailer'?

Amazon.com, Inc. AMZN may have edged out retail giant Walmart, Inc. WMT in terms of quarterly revenue with its fourth-quarter earnings released Thursday. 

The Details: Walmart, often dubbed "the world's largest retailer," has been the top revenue generator since 2012 when it took the top spot from Exxon Mobil Corp. XOM, according to CNBC. 

Amazon may have taken the title from Walmart after it reported $187.79 billion in revenue for the fourth quarter in Thursday's earnings release. Walmart is set to report on Feb. 20 and the Wall Street consensus estimates revenue of $180.08 billion, according to data from Benzinga Pro. 

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Amazon's revenue pushed higher in the fourth quarter with the help of 19% year-over-year gains in its cloud business, AWS. CEO Andy Jassy also pointed to Amazon's "most successful holiday season yet" with a record-breaking Black Friday week and Cyber Monday helping to drive revenue higher.  

The COVID-19 pandemic also shifted consumers towards online shopping and helped Amazon's annual North America sales grow more than 100% since 2019. 

Walmart also leaned into its e-commerce business and the segment has seen significant growth in recent years. Last quarter, Walmart reported its global e-commerce sales grew by 27% year-over-year, matching its highest growth rate in two years. 

Investors will be eyeing Walmart's earnings report on Feb. 20 to see if Amazon has officially taken the top spot as the highest quarterly revenue generator. 

AMZN Price Action: According to data from Benzinga Pro, Amazon shares are down 3.72% at $229.95 at the time of publication Friday.

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