Amazon income doubles in 4th quarter of 2021
E-commerce firm to raise price of Prime membership for first time since 2018
Amazon saw its net income nearly double in the fourth quarter, according to the company’s financial results that were released Thursday.
The US e-commerce firm posted a net income of $14.3 billion in the October-December period, up 98.6% from $7.2 billion during the same period in the previous year.
For 2021, net income increased 56.3% to $33.3 billion, from $21.3 in 2020.
Total net sales came in at $137.4 billion for the three months ending in December -- up 9.5% from $125.5 billion during the same period of 2020.
Net sales totaled $469.8 billion in 2021, rising 21.7% from $386 billion in 2020.
Amazon said it will increase the price of its Prime membership in the US with the monthly fee going from $12.99 to $14.99, and the annual membership from $119 to $139.
For new Prime members, the price change will take effect Feb. 18 and for current members, it will be applied after March 25.
This will be the first time the company will raise the price of Prime membership since 2018.
Despite losing 7.8% during trading hours on the Nasdaq, Amazon stock price skyrocketed 16.8% in after-hours trading with strong financial results.Anadolu Agency website contains only a portion of the news stories offered to subscribers in the AA News Broadcasting System (HAS), and in summarized form. Please contact us for subscription options.