If you have an Amazon Prime Subscription, get set to pay more for it
Amazon is raising the price of its service for its US customers after reporting record sales and profits.
The e-commerce giant said it was hiking the price by 17% to $139 for annual membership.
As a result of the news, shares in the company rose 12 percent in after-hours trade. Before the market’s close, Amazon’s stock had dropped nearly 8 percent as part of a broader technology share selloff sparked by Facebook owner Meta Platforms Inc’s outlook.
The firm cited increased wage and shipping costs as the reason.
