Amazon reported $137.4 billion in revenue in the last quarter of 2021, a 10% jump from 2020—and the annual cost of Prime membership is increasing to $139.
Thursday, as its fourth-quarter earnings report showed a 9% year-over-year increase in revenue and met analysts’ expectations following a holiday season fraught with challenges.... [+]The cost of Prime, which gives customers free one- or two-day delivery and access to perks like Amazon’s streaming service, is increasing to $139 per year or $14.99 a month—the price hike will take effect on February 18 for new members and after March 25 for current ones.
Amazon reported $137.4 billion in revenue in the quarter ending in December, up 9% from last year and roughly meeting analysts’Amazon said this year’s Black Friday to Cyber Monday shopping weekend was its busiest ever. Amazon shares jumped over 17% to $3,261.50 as of 4:50 p.m. in after-hours trading after the announcement. “As expected over the holidays, we saw higher costs driven by labor supply shortages and inflationary pressures, and these issues persisted into the first quarter due to Omicron,” Amazon CEO Andy Jassy said. “Despite these short-term challenges, we continue to feel optimistic and excited about the business as we emerge from the pandemic.”That was Amazon Prime’s previous annual rate.
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