3 ms·
> modest but solid revenue growth, costs a bit over-inflated, but not at all beyond the pale Net income dropped 34% compared to the same quarter last year. 21
by DeRock 4y ago
> modest but solid revenue growth, costs a bit over-inflated, but not at all beyond the pale
Net income dropped 34% compared to the same quarter last year. 21% drop comparing FY2022 to FY2021. That feels significant, especially when revenue grew over the same periods.
- samspenc 4y agoYeah, even though revenue increased a modest amount, the drop in income / profit should have investors worried.
- jsnell 4y agoIt's mostly driven by changes to Other Income (+12b to -3b), which is dominated by shares Google owns in other companies being marked to market. Basically this exaggerates both the good times (unrealized gains boost the net income, even though it's all on paper) and the bad times (the inverse). The operating income is probably a better way to reason about how sound the core business is.
- deleted 4y ago[deleted]