Amazon (AMZN) reported fourth quarter profit which smashed expectations in part because of its investment in EV maker Rivian (RIVN). The e-commerce giant also announced it will raise its Prime membership fee to $139 per year from $119 in the U.S. The stock is soaring in after-hours.
These are the earnings and revenue results for Amazon’s fourth quarter.
This is the third time since the launch of Amazon Prime that the e-commerce giant announces a fee hike for its yearly delivery service in the U.S. It raised fees in 2014 and 2018 by $20 each time. The announced price change will go into effect for new members on February 18th. Existing members will see the fees upon their renewal date after March 25.
The company’s net income nearly doubled last quarter compared to the same period the previous year, in large part because of its investment in Rivian (RIVN). Amazon reported $14.3 billion in…
