Amazon raises US price for Prime despite record profit
Amazon is raising the price of its Prime service for US customers after reporting record sales and profits.The firm, which cited increased wage and shipping costs, said it had no announcements to make about other countries "at this time".
The firm's profits in the quarter also jumped, to $14.3bn - almost double the prior year. Its investment in electric vehicle maker Rivian, which floated on the stock market in November, drove those increases.Analysts had been worried about how the firm would fare, after executives warned last year they were seeing higher costs due to supply issues and difficulty hiring workers.
"As expected over the holidays, we saw higher costs driven by labour supply shortages and inflationary pressures, and these issues persisted into the first quarter due to Omicron," chief executive Andy Jassy said.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Amazon announces 1,500 new apprenticeships for 2022The expansion of the retailer’s programme includes over 200 degree-level apprenticeships.
Read more »
Tell us: have you stopped using an exercise bike since UK Covid restrictions eased?Do you continue to keep up your fitness routine at home, or has your exercise bike become a clothes horse since gyms reopened?
Read more »
'I’m 7ins taller than husband - pals ask how we have sex & want us to break up'Mia Wilson, in Brooklyn, New York, shared an insight into the bizarre comments she and her husband have received from strangers, because she is seven inches taller than him
Read more »
Lightning ‘megaflash’ the length of three US states sets world recordLightning ‘megaflash’ the length of three US states sets world record
Read more »
US is ignoring Russia’s security concerns, says Putin | First ThingIn first public comments on crisis since December, Putin says west is using Ukraine as ‘tool to hinder Russia’. Plus far-right Republicans, and a backlash against sex positivity
Read more »
We partied with Liam Gallagher - but his un-rock n roll demands left us stunnedWHEN Five launched onto the music scene in 1997, covered in tattoos, piercings and spiky haircuts, they told us they were “five bad boys with the power to rock you”. Put together by the same team b…
Read more »