On February 19, 2019, Walmart announced its financial results for the year FY19 (12 months ending January 31, 2019). During the fiscal year, Walmart total revenues reached $514 billion. The revenues were up 2.8% yoy, from $500 billion in the previous year. Walmart reported a net income of $6.7 billion. The net income declined -32.4% yoy, from $9.9 billion in the previous year.

Few weeks back, on January 31, 2019, Amazon had announced its financial results for the year 2018 (12 months ending December 31, 2018). During its fiscal year, Amazon total revenues reached $233 billion. The revenues were up 31% yoy, from $178 billion in the previous year. Amazon reported a net income of $10 billion. The net income increased 232% yoy, from $3.3 billion in the previous year.

Nobody has ever doubted Amazon revenue growth so far. But, Amazon net profit used to look very small in front of Walmart. This year, Amazon net profit exceed Walmart net profit for the first time. The following chart shows Amazon and Walmart net profits for the 23-year period from 1996 to 2018.

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Amazon Revenues and Profits Analysis – 2019 Update