Wednesday, 15 August, 2018

Amazon jacks up the price of Prime from $99 to $119

Amazon Prime price hike inbound: you'll pay $119 instead of $99 soon Business News Roundup, April 27
Mandy Jefferson | 27 April, 2018, 10:09

Mortgage buyer Freddie Mac said Thursday the average rate on 30-year, fixed-rate mortgages jumped to 4.58 percent from 4.47 percent last week.

Net income more than doubled to US$1.9bn (1Q 17: US$724mln) or US$3.27 per share, comfortably ahead of analysts' forecasts for earnings of US$1.27 per share.

In January, the service announced it was boosting its monthly subscription option for Prime from $10.99 to $12.99.

Amazon's shares soared over 6 percent in after-hours trading, following a substantial earnings beat and a forecast for current-quarter growth that would defy all expectations. Sales from Prime fees and other subscriptions grew 60 percent to $3.1 billion. The company reported that revenue jumped 43% from previous year, to $51 billion from $35.7 billion.

May dealt new Brexit defeat in upper house of parliament
Above all, it shows we have a Prime Minister governing for narrow party interest, not the national interest. The most cited model of a customs union is the one the EU has with Turkey, and it has many flaws.


Amazon Prime, which has more than 100 million members worldwide, gives members free two-day shipping on a variety of products, as well as access to exclusive TV shows through the Prime Video app on Apple TV, movies, and music.

Amazon and Bezos still have to get through what may become one of their most challenging years yet, which is saying something for a company known for setting - and meeting - lofty goal. For the first time, Amazon's founder and CEO Jeff Bezos recently disclosed the company had more than 100 million Prime subscribers, globally. The same period from a year ago had $1.48 in EPS on $35.71 billion in revenue.

Amazon Web Services, the cloud platform, continued to bring in the bulk of the company's profits. On Thursday, it announced with the National Football League a renewed agreement for Amazon to exclusively stream Thursday night football games to Prime subscribers. That's why you're seeing this remarkable acceleration in AWS growth, now for two quarters in a row.

Amazon said it expects operating profit this quarter between $1.1 billion and $1.9 billion, up from $628 million a year earlier.

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