Amazon reports strong 4Q results despite supply-chain snags

By ANNE D’INNOCENZIO
AP Retail Writer

NEW YORK (AP) — Amazon’s profits in the fourth quarter nearly doubled, beating analysts’ expectations. This came even as the online behemoth contends with surging costs tied to a snarled supply chain and labor shortages. The Seattle-based company also raised its annual prime membership fee to $139 per year from $119. The company reported a profit of $14.32 billion, or $27.75 per share, for the three-month period ended Dec. 31. That compared with a profit of $7.22 billion, or $14.09 per share, during the year-ago period. Revenue rose 9% to $137.41 billion, Amazon’s fifth consecutive quarter of revenue topping $100 billion. Analysts surveyed by FactSet on average expected $137.68 billion in quarterly revenue and per-share earnings of $3.61 per share.