Amazon Raises Cost Of Prime Membership Following Strong Q4 Earnings

The e-commerce company is raising the price of its Prime membership for the first time in four years — from $119 to $139 per year.

Amazon reported Thursday that its profits nearly doubled in the final three months of last year, even as it contended with surging costs tied to a snarled supply chain and labor shortages.

The Seattle-based online behemoth also said it is raising its annual prime membership fee in the U.S. to $139 per year from $119. It's the first price hike for the Prime membership since 2018.

Shares of Amazon jumped nearly 15% in after-market trading.