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Amazon’s AI Bets and Cost-Cutting Measures Pay Off, Boosting Stock by 5%

by THEFUTURE.TEAM

November 1, 2024

Shares of Amazon surged over 5% in after-hours trading on Thursday after the company reported stronger-than-expected third-quarter earnings. Amazon announced earnings per share of $1.43, alongside revenue reaching $158.9 billion, surpassing analyst projections of $1.14 per share and $157.2 billion in revenue, according to FactSet.

Key Financial Highlights

North American Sales: Amazon’s North American segment recorded a 9% year-over-year sales increase, totalling $95.5 billion.
AWS Growth: Amazon Web Services (AWS), the company’s cloud unit, posted $27.5 billion in revenue, marking a 19% rise compared to the same period last year.
Stock Movement: Although Amazon’s stock initially fell over 3% on Thursday before earnings were released, it rebounded significantly in after-hours trading. So far, Amazon shares are up almost 24% year-to-date.

Background on Amazon’s Strategy

Amazon’s recent efforts include major cost-cutting moves, guided by CEO Andy Jassy, to streamline operations since 2022. This restructuring has led to over 27,000 layoffs and the closure of initiatives such as Amazon’s telehealth and same-day delivery services. Despite these reductions, Amazon is doubling down on other key areas, like a $52 billion investment in nuclear energy to support data centers in Virginia, Mississippi, and Ohio. The company is also moving forward with **Project Kuiper**, aiming to build a satellite network of 3,236 units to broaden internet access worldwide—a venture projected to involve over $10 billion in launch costs across five years, according to analysts from Wedbush Securities.

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Amazon’s Market Reach

July’s Prime Day achieved “record-breaking sales,” while the introduction of Amazon’s AI-powered shopping assistant, **Rufus** was rolled out to U.S. customers last month. Notably, Amazon had slightly missed expectations in the previous quarter and cautioned that intense news cycles could distract customers—a factor cited by CFO Brian Olsavsky during the second-quarter earnings call. Despite these challenges, the company’s annual revenue is expected to remain strong.

Noteworthy Figures

Amazon’s market capitalization has reached $1.96 trillion, making it the fifth-largest company globally, trailing behind Apple, Nvidia, Microsoft, and Google. Meanwhile, Jeff Bezos, who served as Amazon’s CEO until 2021, holds a net worth of $204.1 billion, much of which is tied to Amazon’s stock. Market fluctuations ahead of Amazon’s earnings report momentarily decreased Bezos’ wealth by around $6 billion. Bezos ranks as the second-richest American, after Elon Musk, on the Forbes 400 list.

The Future Forbes Realty Global Properties

TV By 2029: What Media Executives Expect

by News Editor

August 18, 2026

The television industry is changing rapidly as cable subscriptions decline, streaming growth slows and media companies rethink their strategies. Deals such as Paramount Skydance’s planned acquisition of Warner Bros. Discovery and Fox’s $22 billion Roku deal reflect that shift.

Cable TV Will Keep Shrinking

Media executives largely agree that traditional pay TV will continue losing viewers over the next three years, although they differ on how quickly. Sports are expected to remain one of the main reasons consumers continue paying for cable, while more programming moves to streaming platforms and larger bundles.

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Personalization And AI Take Center Stage

By 2029, personalization could become standard across television. ESPN chairman Jimmy Pitaro expects platforms to tailor both recommendations and content to individual viewers, while Tubi CEO Anjali Sud predicts more relevant, highly personalized advertising.

AI could also make television more global by allowing viewers to watch content in their preferred language without traditional dubbing or subtitles. At the same time, immersive sports experiences, including 8K and virtual-reality viewing, could create new ways to watch live events from home.

A More Fragmented TV Industry

The future may also bring more partnerships between traditional networks, streaming platforms and creators. Executives expect podcasters and livestreamers to increasingly find their way onto television, while major media companies continue reshaping their businesses around changing viewing habits.

Overall, the industry’s direction appears clear: less traditional cable, more streaming, greater personalization and deeper integration of AI and commerce.