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Business

Amazon overtakes Walmart for the first time

July 27th, 2015 by ,    photos by

Bow down, blue vests

 
 
 

Walmart has been beat. According to Re/Code, Amazon just overlapped its largest competitor for the first time to make it the world's largest company in terms of market value. 

Following second-quarter financial results that shattered analyst estimates, AMZN stock soared 17 percent to nudge the e-commerce giant to a market value of $250 billion. 

Cranking the volume

Where analysts had previously predicted a loss of 14 cents per share, reports showed a gain of 19 cents per share on revenues of $23.2 billion and an operating profit margin of 21 percent - a 17 percent jump from the quarter prior. 

The company credited its sharp quarterly gains to an increase in delivery speed and its increasinlgy popular Amazon Prime and Prime Now services.

Lesson learned: Never underestimate the power of the same-day delivery service.

Want to read more?

Re/code: Amazon Surges on Q2 Results, Now Worth More Than Walmart

 

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