Google: The Hidden Truth Behind Accounting Boosts (Archive)
Unmasking Alphabet’s earnings: separating one-off accounting boosts from true operating strength.
This 5-Minute Pitch was originally published on Seeking Alpha before the launch of the Hunting Alphas website. It is shared here to showcase my previous work and track record. New 5-Minute Pitches published on this site will not be disseminated anywhere else.
Elevator Pitch
- In a quarter ripe with one-time adjustments, non-core FX impacts and accounting assumption changes, it is important to extract the hidden, like-for-like comparable truth behind the numbers.
- Search revenue is more resilient than it looks.
- Margin and productivity levers are abound.
- Cloud margin expansion thesis is not playing out.
- Overall, the positives outweigh the negatives.
Read the full article here.
Disclosures and Disclaimers
Past performance ≠ future results. Not investment advice. See full Disclaimer.
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