Amazon Rises After Announcing 10M Customers Joined Prime

NEW YORK (TheStreet) -- Shares of Amazon (AMZN) are climbing after the company announced that more than 10M of its customers had joined its Prime service for the first time this holiday season.

WHAT'S NEW: More than 10M of Amazon's customers joined its Prime free delivery service during the holiday season, the company stated today. A number of analysts have said that Prime members order significantly more products from Amazon than the company's customers who are not Prime members. Prime membership costs $99 per year. "We are working hard to make Prime even better and expanding the recently launched Prime Now to additional cities in 2015," said Jeff Bezos, founder and CEO of Amazon.com. Prime Now, which launched in select areas of Manhattan on Dec. 18, offers one-hour delivery on "tens of thousands" of products through a mobile app.

WHAT'S NOTABLE: Online shopping was on trend to increase 16% during this year's holiday season versus last year's holiday season, comScore estimated, according to Bloomberg.

PRICE ACTION: In mid-morning trading, Amazon rose 1% to $306.

Reporting by Larry Ramer

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