Energy giant Exxon Mobil Corp
The widely watched Fortune 500 list, released Sunday, showed that the world's largest listed oil company regained the top spot, raking in $442.9 billion of revenue in 2008, despite the decline of energy prices late last year.
Exxon also was the most profitable, earning $45.2 billion last year.
That performance displaced Bentonville, Arkansas-based Wal-Mart, which fell to runner-up after topping the list six of the past seven years. The retailer's revenue climbed 7 percent to $405.6 billion as recession-weary consumers tried to stretch their dollar.
In what was one of the worst years ever for stock markets, most companies saw revenue and earnings tumble. Overall, earnings of the Fortune 500 fell 85 percent to $99 billion last year. That, the magazine said, was the biggest one-year drop since it began compiling its list 55 years ago.
Energy companies, buoyed by soaring prices earlier in 2008, dominated the top ranks. Chevron Corp
General Electric Co
As expected, money-losing financial services companies were the hardest hit last year. Citigroup Inc
(Reporting by Joseph A. Giannone; Editing by Jan Paschal)