If success of a company is judged by revenue it generates, the growth of the following companies are soaring high. Fortune has released annual ranking of top gold diggers in the corporate world of US. The largest companies listed by Fortune stand for 2/3rd of GDP in the country, by generating $840 billion of profits, $12 trillion of revenues, 27.9 million employees and $17 trillion of market value this year, across the world. Walmart has managed to rank No.1 and Apple ranked its highest ever at No.3, while AT&T is back at No. 10.
Here are the top 10 American revenue generators of 2016 –
Rank in Fortune 500 – 10
Revenue in 2015 – $146.8 Billion
AT&T ventured into a new path when some of its mainstream arms ran into a big trouble in 2015. A regular attack from an invigorated network operator T-Mobile has stripped off around 2 million of mobile subscribers from AT&T every month. The hundreds of years old legacy telecom business exceeded its record decline, by giving up around 10% of revenue to its rival, T-Mobile.
Hence, CEO Randall Stephenson he played two risky gambles which may, or may not, be beneficial for the company next year. First off, he acquired Direc TV, a satellite TV provider, for around $50 billion. The move quickly led AT&T to become among the leading TV subscription providers in the world with over 19 million subscribers overseas and 26 million in the US. It also acquired Iusacell and Nextel Mexico for around $5 billion.
9. Ford Motor
Ranked No.9 in Fortune 500
Revenue in 2015 – $149.6 Billion
Last Year, Ford showed its best sales in the US since 2006. It launched F-Series Trucks and sold over 780,000 vehicles. The company is looking forward to grow with this streak this year, due to low gas prices. The company will also look forward with automated driving technology to stand out in competition. Ford has been approaching Uber and Google, but it won’t partner with any of them.
8. General Motors
Ranked No. 8 in Fortune 500
Revenue in 2015 – $152.4 Billion
The most important goal of General Motors was to stay away from scam related to ignition switch recall which cast a fade on this historic brand in 2015. With over $9.8 billion of revenue worldwide, it had record sales last year. General Motors will keep on continuing with its claim on auto market in the US for 2016. It is also growing up for releasing automated cars. This move can possibly change the game for both auto industry and the company over the decade to come.
7. CVS Health
Ranked No. 7 in Fortune 500
Revenue in 2015 – $153.3 Billion
CVS Health is still facing the dash due to its move to drop cigarettes in 2014. But it keeps on enjoying its positive image from that decision which led it to start new business for Caremark pharmacy. Recently, CVS Health owned around 1700 TARGET drugstores. With tech giant Curbside, it is conducting order pickup service.
6. United Health Group
Ranked No. 6 in Fortune 500
Revenue in 2015 – $157.1 Billion
The largest health insurance company in the US, United Health left the leading trade group of insurance industry, America’s Health Insurance Plans. According to the company, the association took a strategy which is not suitable for the diverse portfolio of United Health Group. It has over 100 million customers worldwide.
Ranked No. 5 in Fortune 500
Revenue in 2015 – $181.2 Billion
The leading pharmaceutical distributor in the US, McKesson has seen strong sales growth over the years because of inflation in generic drug prices. However, that tailwind is supposed to cut and slow down the overall revenue hike of the company this year. The company also lost a few customers which could lose further $13 billion of revenue by 2018 if Walgreens acquires Rite Aid. The management has been trying hard to reduce such blows. It is also making a restructuring plan to generate up to $180 million of savings this financial year.
4. Berkshire Hathaway
Ranked No. 4 in Fortune 500
Revenue in 2015 – $210.8 billion
Warren Buffet’s investment and insurance company Berkshire Hathaway generates most of its revenue thanks to his investment skills. The company acquired Precision Castparts for $32 billion in early 2016. Berkshire owns dozens of companies, including Fruit of the Loom (underwear maker), Geico (car insurance company), and Burlington Northern (a railroad company). It also owns a significant share of Kraft Heinz. Currently, it generates up to three quarters of revenue from its operating, non-financial businesses. IBM and American Express are some of his leading investments in stock market.
3. Apple Inc.
Ranked No.3 in Fortune 500
Revenue in 2015 – $233.7 Billion
After witnessing solid growth over the decade through iPod media player and by launching iPhone, Apple finally seems to break the boundaries. By the end of 2015, iPhone 6S Plus and iPhone 6S have managed to outperform their predecessors in sales. However, the iPad sales kept on shrinking all the year round. In April 2015, Apple launched Apple Watch which earned modest sales and mixed reviews. The hopes have moved to further iPhone upgrade and the company focused on India where its market is miniscule.
2. Exxon Mobil
Ranked No.2 in Fortune 500
Revenue in 2015 – $246.2 Billion
The leading Oil & Gas publicly traded giant, Exxon Mobil has restored the growth due to the reduced crude prices. The vertically integrated approach of the company led its downstream sales to cover the value which is lost in upstream operations when oil prices are declined. It has managed to become the industry benchmark from profitability to safety measures. In both California and New York, the state attorneys opened investigations in whether the company misled the investors on the risks due to climate change, over the claims that it restrained the research which led to tiresome results.
Ranked No. 1 in Fortune 500
Revenue in 2015 – $482.1 Billion
Walmart has been witnessing significant growth for acclimatizing its big-box approach to the modern world. Followed by Amazon, it has managed to become second retail biggie. It invests mostly in tech and gives raises to its workers. The US Division of the company has seen great sales rise by improving customer service in 2015. It is looking forward to grow further with the important reset of its food department, which delivers up to half of its sales. The company is focusing mainly on fresh and organic food. It also introduced Walmart Pay across the country to prove its hold with tech giants.