Amazon surpasses Walmart in annual revenue for the first time

This story was originally published on sister site, Modern Retail.

Amazon has eclipsed Walmart in annual revenue for the first time ever.

Amazon said earlier this month that it brought in $716.9 billion in revenue for 2025. That beat Walmart’s sales last year, which came in at $713.2 billion, the company reported on Thursday.

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Future of Marketing Briefing: The mental gymnastics of principal media

There’s a very specific facial expression CMOs make when “principal media” enters the conversation — composure holding, skepticism setting in. They understand the mechanics: an agency buys inventory, resells it and keeps the margin. What’s changed is the expectation that they take a side.

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For some, the model nudges decisions toward the agency’s balance sheet, not their objectives. For others, it’s a tradeoff to be structured and contained with the right guardrails.

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