Amazon just raised the price of Prime. It's about time

Organisers of Tuesday's rally said Amazon workers came from as far afield as Poland and Italy to voice their displeasure

Starting May 11, anyone who signs up for a new Prime subscription will find they need to pony up $20 more per year than previously. Starting May 11, customers will pay twenty bucks extra per year, the same amount Amazon previously increased its original $79 United States dollars price.

It's pretty safe to say that Amazon Prime is a very popular service, what with over 100 million subscribers.

Amazon executives said Thursday that the 20 percent increase is due to higher costs to maintain the program, such as shipping fees. Net sales ultimately increased 39 percent compared with the first quarter for 2017 when the $1.6 billion favorable impact from year-over-year changes in foreign exchange rates throughout the quarter are taken into account. Amazon kept it there for the next nine years, even as it added a host of benefits to the service.

The Seattle company reported net income was $660.1 million (47 cents per share) during the quarter.

When asked about the accelerated revenue growth seen in North America for the quarter, Amazon Chief Financial Officer Brian Olsavsky said the general driver continued to be Prime and the Prime flywheel.

Analysts had anticipated a profit of $1.25 a share, and revenue of $49.9 billion, according to S&P Global Market Intelligence. The president also launched a study of whether Amazon is getting too good of a deal from the US Postal Service.

Amazon also reported sales from its online stores rose 18% from the same time previous year to $26.94 billion.

For the current quarter, Amazon projected operating profit in the range of US$1.1 billion and US$1.9 billion, up from US$628 million a year earlier.

The Redmond, Wash., company said revenue from its Azure cloud computing service grew 93 percent during the quarter, keeping up the momentum in that space for several quarters.

Earlier this year, Amazon announced a partnership with JPMorgan Chase & Co and Berkshire Hathaway Inc to determine how to cut health costs for hundreds of thousands of their employees. Prime selection in India now includes more than 40 million local products from third-party sellers, and Prime Video is investing in India original video content in a big way, including two recent premiers and over a dozen new shows in production, Bezos said in the letter.

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