The annual list is based on companies’ 2007 revenues, which is why Wal-Mart could keep its top spot despite earning less profit than Exxon Mobil. Wal-Mart took in $378.8 billion in revenue last year, up 7.9% compared with 2006, and had $12.7 billion in profits. Exxon Mobil was a close second with $372.8 billion in revenues and $40.6 billion profit, reports the Detroit Free Press.
Flagging U.S. auto sales and a $38.7 billion loss in 2007 saw GM’s revenues drop to $182.3 billion for the year. Despite the turmoil Ford managed to keep its number seven position.