Shares in Amazon rose about 2% Thursday as the company announced that it is raising the price of Amazon Prime for U.S. subscribers by $20—from $79 to $99 per year.
The decision comes after Amazon warned on its earnings call in late January that it was considering raising the price of its Amazon Prime subscription by $20 to $40 as the online retail giant grapples with escalating shipping costs.
The popular service features free two-day shipping and access to an expanding streaming library.
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