Amazon to raise fees as revenue disappoints

With 237 million annual customers and little profit to show for it, online retailer Amazon plans to raise shipping rates.

According to the New York Times, the proposed fee increase – as much as 50 percent on its $79 Prime shipping program – was disclosed during a fourth-quarter earnings conference call. The move could mean $500 million for the bottom line. Amazon has an estimated 25 million Prime subscribers, The Times said.

On the quarter, Amazon reported revenue of $25.59 billion, up 20 percent from the fourth quarter in 2012, and earnings per share were 51 cents, up from 21 cents. Both figures were below Wall Street analyst estimates.

Read more from the New York Times.