In addition to its impressive financials, Amazon announced plans to raise the price of its Prime membership service from $99 to $119 May 11, which financial analysts believe will not drive away customers due to its improved offerings.
“We are raising our topline and operating margin estimates for [fiscal year 2018] and beyond reflecting the continued momentum in Prime and accelerating growth in its two more profitably businesses, [Amazon Web Services] and advertising,” Stifel analyst Scott Devitt wrote in a note to clients Friday, according to CNBC.
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