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.

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Cyprus Job Vacancies Fall 7% As Hiring Demand Softens

by THEFUTURE.TEAM

September 14, 2026

Cyprus’ job vacancy rate fell to 2.6% in the second quarter of 2026, down from 2.8% in the previous quarter and 3.3% a year earlier, according to data from the Statistical Service, or Cystat.

Vacancies declined by 975, or 7%, from 13,905 in the first quarter. The drop points to softer hiring demand, although several sectors continue to face staffing shortages.

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Hospitality Records Highest Vacancy Rate

Accommodation and food service activities had the highest vacancy rate at 4.6%, reflecting continued demand for workers in one of Cyprus’ most labor-intensive industries.

Transportation and storage and administrative and support services followed at 3.5% each, while construction recorded a 3.1% vacancy rate. Wholesale and retail trade stood at 3%.

Hospitality And Trade Have Most Openings

Accommodation and food service activities also recorded the largest number of vacancies, with 2,827 positions. Wholesale and retail trade followed with 2,286, while construction had 1,330.

Professional, scientific and technical activities recorded 874 vacancies, followed by transportation and storage with 859, manufacturing with 854, and administrative and support services with 789.

Public administration and defense had 665 vacancies, while human health and social work activities recorded 572. Information and communication activities had 441 openings, and financial and insurance activities had 398.

Vacancy Rates Vary Widely Across Sectors

Manufacturing and human health and social work activities each recorded vacancy rates of 2.2%. Publishing, broadcasting and content production, information and communication, and public administration and defense each stood at 2%.

Water supply and waste management and professional, scientific and technical activities recorded 1.9%, while other services stood at 1.8%, financial and insurance activities at 1.7%, and arts, sports and recreation at 1.5%.

Education had a vacancy rate of 0.7%, while electricity supply and real estate activities each stood at 0.6%. Mining and quarrying recorded no vacancies.

What Counts As A Job Vacancy

Cystat defines a job vacancy as a paid position that is newly created, unoccupied or about to become vacant, where an employer is actively seeking an external candidate and intends to fill the role immediately or within a specified period.

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