Amazon Prime Membership Is About to Get More Expensive Very Soon

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AWS accounted for 73 per cent of Amazon's operating income during the quarter - $1.4bn out of $1.9bn, which is up from $1bn in Q1 2017.

Amazon's results bucked expectations that it would plow more profit into investments, as it has done in the past.

We are so used to having Amazon around, we dont realize how big it is and how much its grown over the past few years. Its shares trade at a premium to many peers. Prime has increased in price a couple times since its launch, and Amazon has regularly tinkered with other subscription options for its music service and Amazon Fresh grocery delivery.

Shares of Amazon jumped more than 7% in after hours trading Thursday following the earnings results.

Amazon's sales in North America grew by 46% year on year to $30.7 billion in the March quarter.

Amazon's revenue received a big lift from the company's acquisition of Whole Foods Markets a year ago.

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Net sales soared by 43% to US$51.0bn (1Q 17: US$35.7bn) in the opening three months of the year, topping Wall Street estimates of US$49.9bn.

New members will be charged the higher price starting on May 11.

Amazon Prime has more than 100 million paid subscribers worldwide by Amazon's latest count.

Amazon CFO Brian Olsavsky argues that the cost of running Prime membership services has increased because Prime members can get free shipping on more than 100 million products. The same period from a year ago had $1.48 in EPS on $35.71 billion in revenue.

Its Amazon Web Services business - the computers that power cloud-based business applications - also is expected to see healthy growth. That's why you're seeing this remarkable acceleration in AWS growth, now for two quarters in a row.

The research firm eMarketer said online commerce represents about 60% of Amazon's business but that it also will generate $3.37 billion in global advertising this year.

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