Amazon may raise price of “prime” service

Amazon’s latest earnings failed to impress investors — and now the online retail giant may be raising the price of its popular “prime” service.

Shares in fell eight percent overnight in after-hours trading.

The company’s fourth-quarter 20-13 profits grew to 239 million dollars, and revenues were up 26 percent.

But that fell short of wall street predictions.

In an investor conference call, executives said they are considering a higher price for “Amazon Prime” — a subscription service that includes free shipping for most purchases, and streaming video similar to netflix.

“Prime” costs about 80 bucks a year — but Amazon says higher fuel and shipping costs could lead to a hike of 20 to 40 dollars per year.

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