Z
Zach Epstein
Guest
Amazon reported a disappointing holiday quarter on Thursday. Revenue was up 20% at $25.59 billion but analysts were expecting just over $26 billion in sales. Making matters worse, the company's net income of $239 million missed estimates by a landslide. How is Amazon planning to bolster earnings in the future? According to comments made by chief financial officer Tom Szkutak during the company's Q4 earnings call, it may raise the price of Amazon Prime membership by between $20 and $40 per year, bringing the total annual cost of the service to as much as $119. Szkutak cited the rising cost of fuel and transportation for the increase, as well as the high frequency of orders from Prime members.
Via BRG - Boy Genius Report