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October 14, 2019Cart

Business

by Westchester County Business Journal
by WCBJ

IBM leads Westchester County companies on Fortune 500

IBM is the top Westchester County company on the 64th annual Fortune 500 list, placing 34th after coming in at 32nd last year.

The Armonk company’s new ranking was reflective of its 4 percent revenue growth in the fourth quarter of 2017, the first increase after 22 consecutive quarters of decline. “Though Big Blue’s analytics and security businesses have grown formidably,” Fortune magazine noted, “revenue for the full year was down 1 percent, and Wall Street may need some more convincing.”

Other county-based companies on the Fortune 500 included Purchase’s PepsiCo (45th, down from 44th); Purchase’s Mastercard (236th, up from 267th); and Tarrytown’s Regeneron Pharmaceuticals (473rd, up from 523rd).

New York’s highest-ranked company was Verizon in New York City, which was down from 14th to 16th.

Overall, the top three companies on the Fortune 500 were Walmart, headquartered in Bentonville, Arkansas, which repeated as No. 1 with revenues of $500.3 billion; Exxon Mobil, based in Irving, Texas, with revenues of $244.4 billion; and Berkshire Hathaway, headquartered in Omaha, Nebraska, at $242.1 million.