Amazon Shares Rise on Q1 Beating Estimates; Prime Yearly Subscription Raised 20%
Amazon shares hit a 52-week high Friday before settling to 3.6 percent higher at $1,572.62, after its Thursday after-market report of a 43 percent Q1 sales surge. The $51 billion in Q1 revenue was 2.5 percent above consensus. Profit was…
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$1.6 billion vs $724 million in the year-ago quarter. Justifying a 20 percent annual price to $119 hike for Prime subscriptions on a Thursday-evening earnings call, Chief Financial Officer Brian Olsavsky said the company continues to raise the value of the Prime program with expanded free same-day and one-day shipping; and two-day free shipping is available on more than 100 million items, up from 20 million in 2014.