Amazon edges past it’s brick and mortar competitor Walmart

Amazon edges past it’s brick and mortar competitor Walmart

Posted:Jul 30,2015

Amazon has proven itself to be the biggest retailer in US after it edged past Walmart on 23rd July, 2015. The outcome seemed unexpected to most industry experts when Amazon’s financials for the second quarter were published. While the physical existence of its competitor is now worth $233.5 billion, Amazon’s worth is counted to be a little over $250 billion. For Q2, Amazon Web Services has achieved a sales figure worth $1.8 billion as depicted in the financial report of Amazon. A year before, the same services fetched Amazon a turnover worth $1 billion, which has now gone up by 80%. Compared to the loss of $126 million sustained by Amazon a year back, the company has now accumulated a profit worth $92 million. Amazon saw a 20% rise in revenue that reached a little over $23 billion in the recent past. Amazon Web Services, the cloud unit of Amazon showed specific outcomes for Q2. This unit enables businesses to utilize some space for storing data besides making the most of cloud computing. The storage space is provided to run all systems efficiently and save more data thereby eliminating the need of spending millions of dollars on servers and data centers. Currently Amazon caters to it biggest market in US reflecting a sales figure worth $13.8 billion that grew by 25.5 percent in terms of common merchandise and electronics. Much of its growth is driven by the popularity of its key services.

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