Amazon considering ‘Prime’ price hike of $20-$40

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Amazon announced Thursday it may soon increase the cost of its Amazon Prime subscriptions after it revealed lackluster quarterly earnings.

During a conference call with investors, the company said it could increase the subscription by $20 to $40 annually. Increased fuel and shipping costs is blamed for the possible increase, according to CNBC.

According to the report, over 1 million people signed up for the service in the third week of December alone, though the company has not disclosed the number of active subscribers.

The company’s fourth quarter earnings were lower than expected. Amazon reported earnings of 51 cents per share, while expected earnings were about 66 cents per share.

Read more: CNBC

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