Fortune magazine released its annual Fortune 500 list of the largest companies in the United States by revenue. Overall, the threshold for this year's ranking is inconsiderably higher than last year, at $5.66 billion.
The total revenue of all 500 companies on the list reached $14.2 trillion, an increase of more than 3.5% from last year, which is equivalent to two-thirds of the US GDP in that year. In 2019, the total profits of these largest U.S. companies reached $1.2 trillion, an increase of roughly 8% compared to last year.
Walmart topped the list for the eighth consecutive year on this year's ranking, generating a total revenue of $4 trillion during this timeframe. It is worth noting that Amazon, which first popped up on the list in 2002, jumped to second place, from which the two largest corporations in the United States are in the e-commerce retail and Internet industries. Oil and gas distributor Exxon Mobil ranked third.
Apple, however, fell out of the top three this year, ranking fourth. The iPhone maker’s total revenue plummeted by 2% and profits slipped by 7%. Though, as the most profitable company in 2018, they were replaced by Berkshire Hathaway in 2019, who set a new annual profit in 2019‒up to $81.42 billion, which is twice the previous high-doubled in 2017 and 20 times the company's profit in 2018.
The total revenue of all 500 companies on the list reached $14.2 trillion, an increase of more than 3.5% from last year, which is equivalent to two-thirds of the US GDP in that year. In 2019, the total profits of these largest U.S. companies reached $1.2 trillion, an increase of roughly 8% compared to last year.
Walmart topped the list for the eighth consecutive year on this year's ranking, generating a total revenue of $4 trillion during this timeframe. It is worth noting that Amazon, which first popped up on the list in 2002, jumped to second place, from which the two largest corporations in the United States are in the e-commerce retail and Internet industries. Oil and gas distributor Exxon Mobil ranked third.
Apple, however, fell out of the top three this year, ranking fourth. The iPhone maker’s total revenue plummeted by 2% and profits slipped by 7%. Though, as the most profitable company in 2018, they were replaced by Berkshire Hathaway in 2019, who set a new annual profit in 2019‒up to $81.42 billion, which is twice the previous high-doubled in 2017 and 20 times the company's profit in 2018.
Mighty Apple dipped a smidge in 2019, both in terms of sales, down 2% to $260 billion, and in its ranking, from No. 3 to No. 4. The computer and phone maker’s ability to make money cushioned the blow. Apple earned $55 billion. Three categories tell the story of Apple’s sales doldrums. iPhone sales, 55% of Apple’s total, fell 14%. Increases in sales of services like streaming and subscriptions, 18% of the total, grew 16%. And wearables (AirPods and Watches) and other non-phone accessories (iPods, HomePods, and Beats products) leapt 41%, but account for only 9% of the pie.From the point of view of profitability, with the exception of Berkshire-Hathaway, Apple ranked second on the profit list; Microsoft's profit rose by 136.8 percent to third. Technology and Financial are still the most profitable industries, with 9 of the top 10 most profitable companies are from the two sectors.
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