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I believe the "one time tax hit" is adjusting for their past fake non-GAPP earnings which pretended giving away billions in stock wasn't material (I am guessing
by curiouscats 10y ago
I believe the "one time tax hit" is adjusting for their past fake non-GAPP earnings which pretended giving away billions in stock wasn't material (I am guessing, so I might be wrong).
The practice of excluding billions in stock giveaways for non-GAPP earning (as not a real cost) was long seen as misleading by me and many others http://investing.curiouscatblog.net/2016/04/21/buybacks-giveaways-to-executives-and-non-gaap-earnings/ http://investing.curiouscatblog.net/2016/04/21/buybacks-give...
They also decided to stop using that deceptive practice, so going forward the non-GAPP earnings will be less fake.
It is sad Google used such deceptive practices. I believe it was forced into being less deceptive by accounting standards not by some decision to be less deceptive going forward.
- maverick_iceman 10y agoIs there any reason someone would look at non-GAAP earnings instead of GAAP given that companies muck around non-GAAP deciding whatever costs to exclude depending on a whim?