Amazon.com Inc on Thursday said it was raising the price of its Prime subscriptions, as it looks to offset higher shipping costs and wages even after beating profit expectations for the holiday quarter.Shares rose 12 percent in after-hours trade. Before the market’s close, Amazon’s stock had dropped nearly 8 percent as part of a broader technology share selloff sparked by Facebook owner Meta Platforms Inc’s outlook.Amazon’s profits included a pre-tax gain of $11.8bn from its stake in electric car maker Rivian Automotive.
Load More
Load More