Amazon doubles quarterly profits to $1.6bn – and hikes annual cost of Prime
by Dominic Rushe and Rupert Neate from Technology | The Guardian on (#3NRS2)
Company announces cost of Prime subscription will increase $20 to $119 for US customers, after share price soars to record high of $1,625
As Amazon reported that it had more than doubled its profits to $1.6bn in the first three months of 2018, the company announced that the cost of a Prime subscription would increase to $119 from $99 per year for US customers.
The results sent the company's shares soaring 7% to a new record of $1,625 in after-hours trading, adding billions to the fortune of its founder, Jeff Bezos.
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