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Amazon is now bigger than Walmart

Akin OyedeleJul 24, 2015, 02:02 IST

REUTERS/Phil Noble

Amazon is now bigger than Walmart.

Based on market capitalization, 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 $567 per share after the company reported quarterly earnings that beat expectations on the top and bottom lines.

Based on the after-hours spike, Amazon's market cap is now worth about $264 billion. Walmart is worth $233.5 billion.

Looked at another way, Amazon grew by about $36 billion in the first half hour after its earnings crossed. For comparison, Twitter's market cap is $23.5 billion.

Here's how Amazon has traded over the past five years:

Google Finance

And here's Walmart:

Google Finance