$AMZN Earnings: Up +10.63% in pre-market


Amazon (ticker: AMZN) shares were jumping 10.7% to $3,074 in premarket trading Friday. Even with the premarket rally, the stock remains lower for the year to date.

Amazon also said it is increasing the price of its Amazon Prime membership for the first time since 2018. Amazon will now charge $14.99 a month, up from $12.99, or $139 on an annual basis, up from $119. The increase will be effective on Feb. 18 for new members, and starting March 25 for current members on the date of their renewal.

For the quarter, Amazon posted sales of $137.4 billion, up 9%, and about in line with Wall Street estimates, and consistent with the company’s forecasted range of $130 billion to $140 billion. The company said the latest quarter total was trimmed by about $1.3 billion due to unfavorable foreign exchange rates.