Amazon made $716.9 billion in revenue in the most recent fiscal year, surpassing Walmart’s $713.2 billion.
It’s the first time Amazon has surpassed Walmart in revenue, CNBC reported.
Amazon had surpassed Walmart in quarterly sales for the first time about a year ago.
Amazon makes money through its online store, cloud computing, advertising and seller services.
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Meanwhile, Walmart sells wares from over 4,600 stores and about 600 Sam’s Clubs and has more than doubled its revenue in the past two decades.
