MORNING BUSINESS REPORT: Amazon surpasses Walmart in revenue for the first time
Amazon reports $187 billion in quarterly revenue, overtaking Walmart’s projected $180 billion for Q4
NEW YORK (LILAMAX)– Amazon has officially overtaken Walmart in quarterly revenue for the first time, marking a major milestone in the retail industry. The e-commerce giant reported $187 billion in revenue for its most recent quarter, while Walmart is expected to announce $180 billion in revenue when it reports earnings on February 20.
Despite Amazon’s quarterly edge, Walmart still leads in annual revenue. However, Amazon’s aggressive investment in AI could solidify its long-term growth. The company plans to spend $100 billion on AI this year, calling it a “once-in-a-lifetime opportunity.”
U.S. Steel Buyout Talks Continue
President Donald Trump met with the CEO of U.S. Steel as the company considers a takeover bid from Nippon Steel. While Nippon’s vice chairman claims the deal aligns with Trump’s objectives, the former president has previously voiced opposition to foreign ownership of U.S. Steel.
Meanwhile, ArcelorMittal announced plans to build a high-tech steel manufacturing facility in Calvert, Alabama, aiming to increase supply for the U.S. automotive industry.
Stock Market Update: Eyes on Jobs Report
Stock markets were mixed on Thursday as investors awaited the monthly jobs report. The market has recovered from Monday’s sell-off, which followed Trump’s announcement of new 10% tariffs on China.
Starbucks Limits Mobile Orders
In an effort to reduce wait times and ease the strain on employees, Starbucks is capping mobile orders at 12 items per order.
Additionally, the coffee chain removed the option to add a splash of milk or lemonade to its Refreshers, pointing out that other drinks on the menu already include those ingredients.
America’s Favorite Movie Revealed
A new Talker Research survey has crowned “Forrest Gump” as America’s all-time favorite movie.
The survey also revealed that:
- The average American has watched their favorite movie 38 times.
- Millennials lead the way, averaging 50 rewatches, with Gen Z close behind.
- “The Wizard of Oz” and “Titanic” round out the top three favorite films.
