NATIONAL NEWS

Amazon reports strong 4Q results despite supply chain snags, increases Prime membership price

Feb 3, 2022, 3:24 PM | Updated: Jun 13, 2022, 3:40 pm
FILE (Photo by David McNew/Getty Images)...
FILE (Photo by David McNew/Getty Images)
(Photo by David McNew/Getty Images)

NEW YORK (AP) — Amazon is reporting strong fourth-quarter sales and profits even as the online behemoth continues to contend with surging costs tied to a snarled supply chain and labor shortages.

The company, based in Seattle, also raised its annual Prime membership fee to $139 per year from $119. This is the first time Amazon has raised the price of Prime membership since 2018.

The company reported a profit of $14.32 billion, or $27.75 per share, for the three-month period ended Dec. 31, 2021. That compared with a profit of $7.22 billion, or $14.09 per share, a share, during the year-ago period. Revenue rose 9% to $137.41 billion, the company’s fifth consecutive quarter of revenue topping $100 billion.

Analysts surveyed by FactSet, however, on average expected $137.68 billion in quarterly revenue and per-share earnings of $3.61 per share.

The company said that sales are expected to be between $112 billion and $117 billion for the current fiscal quarter. Analysts were expecting $120.93 billion, according to FactSet estimates.

Amazon was one of the few retailers that has prospered during the COVID-19 outbreak: As physical stores selling non-essential goods temporarily or permanently closed, homebound people turned to Amazon for everything from groceries to cleaning supplies.

But growth has slowed as newly vaccinated Americans feel comfortable going out. And the company, like many others, are dealing with global supply chain issues and shortages of workers.

Shares rose more than 13% in after-hour trading when Amazon released its results.

KSL 5 TV Live

Top Stories

National News

LANSING, MI - OCTOBER 17: The Boogaloo Boys holds a rifle at a rally at the Capitol Building on Oct...
ED WHITE, Associated Press

EXPLAINER: 3 more on trial in Michigan governor kidnap plot

A scheme to kidnap Michigan’s governor in 2020 will get yet another airing in court.
22 hours ago
A solar panel system is seen in Gainesville, Florida. (Joe Raedle/Getty Images)...
Rachel Ramirez, CNN

Completely solar community endured Hurricane Ian with no loss of power and minimal damage

Completely solar community Babcock Ranch endured Hurricane Ian with no loss of power and minimal damage
22 hours ago
A car sits in floodwater after Hurricane Ian on September 29, 2022 in Orlando, Florida. (Gerardo Mo...
REBECCA SANTANA and MEG KINNARD Associated Press

Florida deaths rise to 47 amid struggle to recover from Ian

Rescuers have evacuated stunned survivors cut off by Hurricane Ian on Florida's largest barrier island, and the state's death toll has risen sharply amid recovery efforts. Hundreds of thousands of people are still sweltering without power in the state, days after Ian's rampage from Florida to the Carolinas. Florida now has 47 confirmed deaths. Ian was one of the strongest U.S. hurricanes on record when the Category 4 monster smashed ashore at midweek. Many storm victims were left isolated with limited cellphone service and lacking basic amenities like water and power. As of Sunday morning, nearly 850,000 customers in Florida were still without electricity.
22 hours ago
Jesus Christ of Latter-day Saints volunteers help clean up and repair the aftermath of Hurricane Ia...
Mike Anderson

Church of Jesus Christ of Latter-day Saints members help clean up the aftermath of Hurricane Ian

"As horrible as natural disasters are, you see the best of humanity," Jesus Christ of Latter-day Saints members gather in Florida to help clean up the mess Hurricane Ian left behind.
2 days ago
(Getty Images)...
Claire Colbert and Amanda Musa, CNN

Texas girl who shot her father and then herself has died, authorities say

A 12-year-old Texas girl accused of shooting her father and then herself as a part of a murder plot with another child died two days following the incident.
2 days ago
FILE PHOTO - (Deseret News)...
Associated Press

Hundreds of cars pack Nevada streets for illegal stunts

Police in northern Nevada say thousands of people in hundreds of cars took over parking lots and intersections Friday night.
2 days ago

Sponsored Articles

Portrait of smiling practitioner with multi-ethnic senior people...
Summit Vista

How retirement communities help with healthy aging

There are many benefits that retirement communities contribute to healthy aging. Learn more about how it can enhance your life, or the life of your loved ones.
Happy diverse college or university students are having fun on their graduation day...
BYU MBA at the Marriott School of Business

How to choose what MBA program is right for you: Ask these questions before you apply!

Wondering what MBA program is right for you? Take this quiz before you apply to see if it will help you meet your goals.
Cloud storage technology with 3d rendering drawer with files in cloud...
PC Laptops

How backing up your computer can help you relieve stress

Don't wait for something bad to happen before backing up your computer. Learn how to protect your data before disaster strikes.
young woman with stickers on laptop computer...
Les Olson

7 ways print marketing materials can boost your business

Custom print marketing materials are a great way to leave an impression on clients or customers. Read for a few ideas to spread the word about your product or company.
young woman throwing clothes to organize a walk in closet...
Lighting Design

How to organize your walk-in closet | 7 easy tips to streamline your storage today

Read our tips to learn how to organize your walk-in closet for more storage space. These seven easy tips can help you get the most out of your space.
Types of Computer Malware and Examples...
PC Laptops

5 Nasty Types of Computer Malware and Examples | Everything You Need to Know to Keep Your Computer and Family Safe

Here are the different types of computer malware and examples that could potentially infect your computer.
Amazon reports strong 4Q results despite supply chain snags, increases Prime membership price