Amazon sets a $ 20 annual increase in prime as a result of the fourth quarter Supporting investors – deadline

Amazon In line with Wall Street’s expectations, it reported fourth-quarter revenue and announced a $ 20 annual increase in prime subscription prices. As a result, the stock price rose significantly after a few hours.

Tech giant stocks surged 18% minutes after earnings news, after falling sharply earlier in the day. They ended their regular trading sessions with 7% off and fell 18% by 2022. Many tech companies, especially Netflix, Spotify, and Facebook’s parent Meta, have been terribly depressed in recent weeks.

Total revenue increased 9% year-over-year to $ 137.4 billion. This is within analysts’ expectations.

Net income for the period reached $ 27.75 per diluted share, well above expectations, including pre-tax valuation gains of $ 11.8 billion from investments in Rivian vehicles. An electric vehicle manufacturer conducted an IPO last November.

Quote investments in faster delivery as well as video programming like NFL football and NFL football Lord of the RingAccording to Amazon, Prime will cost $ 139 a year. This is the first increase since 2018 and the third increase since the customer loyalty program was launched. Each jump was $ 20. On a monthly basis, subscriptions will increase from $ 13 to $ 15.

Amazon is generally stingy on streaming ratings statistics, but because of its focus on sports, the company reported that live sports ratings were the strongest ever in the fourth quarter of the world. Thursday night footballStreamed on Prime Video and Twitch, it has the highest average number of viewers since Amazon acquired the rights in 2017, but Amazon didn’t reveal the exact number. The company will take over the night exclusively after Fox airs the game this fall.

In the UK, the Manchester United v Arsenal soccer game on December 2nd last year became the most watched Premier League match ever on Prime Video, with an estimated audience of over 4 million.

Amazon sets a $ 20 annual increase in prime as a result of the fourth quarter Supporting investors – deadline

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