Amazon says it has more than 150 million Prime members

Amazon says it now has more than 150 million Prime members, who pay 119 dollars (£90) a year for faster shipping and other perks.

And its financial results during the busy holiday shopping season were far better than Wall Street analysts expected.

Shares of Inc. soared 12% in after-hours trading on Thursday.

The Seattle-based company reported net income of 3.27 billion dollars (£2.5 billion) or 6.47 dollars (£5) per share, in the three months ending in December. That was up from 3.03 billion dollars (£2.3 billion), or 6.04 dollars (£4.60) per share the year before.

Analysts were expecting earnings of 4.04 dollars (£3.09) per share in the latest quarter, according to research firm FactSet.

Revenue jumped 21% to 87.44 billion dollars (£66.79 billion), also beating expectations.

The last time Amazon revealed how many Prime members it had was in 2018, when it said it had more than 100 million paying members.