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Amazon Misses Wall Street Profit Targets

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By Paul Johnson

Phoenix, Arizona (CNN) - 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 Amazon-dot-com 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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