Amazon Eyes Price Hike for Its Premium Service Deadline
Amazon is contemplating a significant increase in its fee for its premium service Amazon Prime. Citing a comment from Chief Financial Officer Tom Szkutak, Deadline.com reports that the fee, which is now $79 per year, could go up by as much as $40.
Nothing has been decided, Szkutak added. The current price has remained in place for nine years, while delivery and other costs have increased during that time, the story notes.
Amazon’s fourth-quarter earnings “failed to deliver, at least as measured by Wall Street’s optimistic expectations,” the piece adds. Revenue came in at $25.6 billion, lower than analysts’ expectations for $26.1 billion. Earnings were 51 cents per share, below the forecast of 66 cents.