Amazon reports sales up 9% and price increase for Prime
Amazon reported sales increased 9% year on year in the last quarter of 2021 to USD 137.4 billion. Operating income decreased to USD 3.5 billion in the fourth quarter, compared with USD 6.9 billion during pandemic lockdowns in fourth quarter 2020.
Net income increased to USD 14.3 billion in the fourth quarter compared with USD 7.2 billion in fourth quarter 2020. The increase is partly explained by a pre-tax valuation gain of USD 11.8 billion included in non-operating income from investment in electric car marker Rivian which completed an initial public offering in November.
The company announced it is raising the price of its Prime service for US customers with 17% to USD 139 per year referring to shipping costs and increased salaries.
Full year sales were up 22% to USD 469.8 billion and profits USD 33.4 billion. The company’s share was up close to 15% in after hours trading.
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