New annual Amazon Prime subscribers will pay $119 a year for the membership program, a $20 increase from $99, beginning May 11. However, if you're a current Prime member whose regular renewal would fall after June 16, Amazon said you can not pay early to get the lower rate, according to tech website CNET. The last time the company raised the annual fee was four years ago.
Amazon shares jumped more than 6% in extended trading, after closing at $1.517.96 in NY.
The announcement came the same day Amazon released its first quarter report. In the second quarter past year, the company posted $37.96 billion in sales. Operating income surged 93% year over year to $1.9 billion.
Amazon turned in a blockbuster quarter on Thursday, providing plenty of evidence that it's taking market share against its rivals even as it announced a price increase for admission to its expanding ecosystem.
Prince Harry Just Announced His Best Man!
The event was a service to commemorate and pay tribute to the fallen members of Anzac (Australian and New Zealand Army Corps). William later said he was " thrilled and delighted " to be asked to be best man, but cryptically warned "revenge is sweet".
Facebook reports strong earnings despite privacy scandal
On Wednesday, he said the company had continued to see declines in users engaging with certain content, such as viral videos. Facebook said the average number of daily active users over March had risen to to 1.45 billion, a 13% increase year-on-year.
Ford limiting car lineup to Mustang, Focus
Ford CFO Bob Shanks announced the improved guidance as the company reported a nine per cent increase in first-quarter net income. Shanks said the automaker is focused on building great new products to maximize revenue while reducing incremental cost.
He also noted that Amazon Prime saw a single increase in March of 2014.
In the company's conference call for investors, Brian Olsavsky, Amazon's CFO, said, "We're seeing people moving more and more of their workloads to AWS". Still, online retailing is its biggest business: Sales from Amazon's online stores rose 18 percent to $26.9 billion, accounting for slightly more than half the company's total revenue. Revenue was $6.03 billion, exceeding the $5.9 billion expected by analysts.
There are so many perks to having a Prime account like Amazon Dash (instant reorder buttons), Amazon Fresh and Pantry the companys grocery service, and the list keeps growing.
Separately, the US National Football League announced that it is renewing a partnership with Amazon Prime Video to deliver a live streams of Thursday night football games.