BENTONVILLE, Ark. (KNWA/KFTA) — Walmart has been surpassed by its biggest online rival.
According to a New York Times article, Amazon has moved past Walmart as the world’s largest retail seller outside of China.
This news comes just a day after Walmart released an earnings report showing it exceeded revenue forecasts for the second quarter this year.
Amazon earned more than $610 billion in the year ending in June 2021, while Walmart brought in $566 billion in that same timeframe.
The New York Times reports Walmart still outsells Amazon in the U.S., but JP Morgan projects Amazon will take the top spot next year.