Amazon is now bigger than Walmart.
Based on market capitalisation, Amazon, which began as an online bookstore, has now overtaken the retail giant.
Amazon shares exploded 15% in after-hours trading to as high as $US567 per share after the company reported earnings that beat expectations on the top and bottom lines.
Based on the after-hours spike, Amazon’s market cap is now worth about $US264 billion. Wal-Mart is worth $US233.5 billion.
Looked at another way, Amazon grew by about $US36 billion in the first half hour after its earnings crossed. For comparison, Twitter’s market cap is $US2.35 billion.
Here’s how Amazon has traded over the past five years:
And here’s Walmart:
Disclosure: Jeff Bezos is an investor in Business Insider through hispersonal investment company Bezos Expeditions.
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