[HN Gopher] Uber posts first profitable quarter on adjusted basis
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       Uber posts first profitable quarter on adjusted basis
        
       Author : geox
       Score  : 10 points
       Date   : 2021-11-04 20:16 UTC (2 hours ago)
        
 (HTM) web link (www.reuters.com)
 (TXT) w3m dump (www.reuters.com)
        
       | zucked wrote:
       | Is this adjusted using standard GAAP accounting practices, or the
       | sort of creative accounting that has been commonplace in the
       | past?
        
         | fshbbdssbbgdd wrote:
         | Correct. The most obviously wrong exclusion is stock
         | compensation. Imagine Uber issued and sold $1B of stock each
         | year. Obviously we wouldn't count that as $1B of profit,
         | because it's just a change in capital structure. Stock
         | compensation is the same thing. The fact that the stock
         | issuance is bundled together with employee compensation (where
         | it substitutes for cash) instead of going directly to the
         | corporate treasury doesn't matter.
        
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       (page generated 2021-11-04 23:01 UTC)