Walmart Replaced ExxonMobil to Record Highest Revenue in 2012 in Fortune 500 List

May 7, 2013 14:55 IST

500 largest companies of the US, Fortune 500 scored the near-record revenues in 2012 and retailer Walmart became the biggest profit maker on annual list by replacing ExxonMobil, according to the Fortune magazine. Apple reached into the list of top 10. This was the first time that Apple entered the list of Top 10, an increase of six places from number 17 position in 2011.

The overall earnings of Fortune 500, accounted for 820 billion US dollar in 2012, a decrease from an all-time high of 824.5 billion US dollar in 2011. Fortune magazine described that earnings of Fortune 500 amounted to a sale of 6.8 percent.

Fortune senior editor-at-large Shawn Tully explained that these companies will have to increase their staff as well as pay higher salary in the wake of improving economy.

Walmart won the first position on the list, replacing energy company ExxonMobil after it posted revenue of 469.2 billion US dollar or 19.3 billion US dollar more than the revenue of ExxonMobil.
It is worth noticing that both Walmart and Exxon have exchanged top most positions in recent years. In the list, various energy companies emerged great players. Chevron remained at the third position and Phillips 66 remained at the fourth position. Valero Energy was placed at the ninth position.

In the list of top 10 companies were, Warren Buffett's Berkshire Hathaway at the fifth position, Apple (sixth), General Motors (Seventh), General Electric (Eighth) and Ford Motor (Tenth).
In the financial sector, JPMorgan Chase was placed at 18th position, Bank of America at the 21st position, Wells Fargo at 25th position and Citigroup ranked at 26th position.

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Read more Current Affairs on: Walmart , Exxonmobil , Fortune 500

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