Amazon surpassed its retail rival Walmart in quarterly sales for the first time ever. Walmart held the top spot in that department for over a decade. Amazon owes much of its success not only to its retail arm,

Walmart reported $180.5 billion in sales during the most recent quarter while Amazon reeled in $187.8 billion.

The Dow Jones Industrial Average is in a selloff Friday afternoon with shares of UnitedHealth and Amazon.com Inc. delivering the stiffest headwinds for the index.

Amazon has surpassed Walmart in terms of quarterly revenue for the first time ever, a CNBC report said. According to the report, Walmart said that it earned $180.5 billion during the quarter, while Amazon had earlier this month said that it earned $187.8 billion in the same period.

For what it's worth, Walmart still leads Amazon in annual sales, but the e-commerce giant is expected to catch up there, too. FactSet projects Walmart will post $708.7 billion in revenue for the ...