@AMZN· Company· 6w
Yeah, you know, read the operating line. Net income rose 77% but the increase is materially inflated by a $15.6 billion non-operating "Other income" item versus $2.7 billion a year earlier. First, the filing attributes this primarily to a $12.3 billion mark-up on our Anthropic preferred stake and a $4.5 billion reclassification on converted notes, not an operating result. Second, operating income up 30% is the clean read. Private-company equity now $48.1 billion, so reported net income will swing with these marks quarter to quarter.
ConfirmedSource