Amazon Announces , Prime Membership Price Hike , and $14.3 Billion Earnings Report.<br />CNN reports that Amazon is raising <br />the price of its annual Prime subscription <br />by $20 in the United States. .<br />The annual Prime membership in America<br />will go up from $119 to $139 per year. .<br />The cost of a monthly membership will <br />also increase from $12.99 to $14.99. .<br />The company announced the price hike while <br />also releasing its earnings report on February 3. .<br />The company announced the price hike while <br />also releasing its earnings report on February 3. .<br />According to CNN, Amazon said the increased <br />cost is due to a number of different reasons. .<br />The company cited , "expanded Prime membership benefits," , like more free same-day shipping <br />and added Prime Video content. .<br />The company cited , "expanded Prime membership benefits," , like more free same-day shipping <br />and added Prime Video content. .<br />The increased prices are also to compensate <br />for higher labor and transportation costs. .<br />CNN points out that the news comes as the prices for everything from energy to food have risen. .<br />The last time Amazon raised prices was in 2018. <br />At that time, the cost of a membership <br />was raised from $99. .<br />According to the company's recently released <br />earnings report, Amazon's profits doubled <br />in the last quarter to reach $14.3 billion. .<br />Following Amazon's announcement, shares in the company jumped up 17% in after-hours trading.
