Amazon debuts on Fortune 500 top 10 list

28 May '18

1 min read

American e-marketplace Amazon has cracked Fortune 500’s top 10 list for the first time, continuing its growth run. The company has jumped from the 12th position last year to the 8th position this year. Amazon’s revenue increased $70 billion in the last two years, touching $177.87 billion. Walmart grabbed the top spot on the list for the 14th time.

Amazon’s enormity stems from its role as the largest US digital retailer, the fastest-growing part of the market. Two other major factors that drive the company’s growth are expansion abroad to markets like India and the rise of Amazon Web Services, the company’s market-leading online storage and service operation.

The e-retailer also spends heavily to boost sales: faster delivery, robust entertainment, and robot-enabled warehouses are part of its increasingly ambitious plans. Amazon also began a North American competition for a second headquarters.

The company recorded a profit of $3.033 billion and its market value as of March 29, 2018 is $700.668 billion. (KD)

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