There needs to be a standard way for companies to report their finances that does not allow this brazen trickery. Uber lost 2.6 billion this quarter (1.33 per share).
The company "New Constructs" does have some mechanism to create a standard "corrected" earnings report that reads past these financial tricks. Its supposedly based on an AI model - been happy with their reports so far - but they are a private company. It would be nice if there was a true standard that did the same that companies had to report in.
Comments
There needs to be a standard way for companies to report their finances that does not allow this brazen trickery. Uber lost 2.6 billion this quarter (1.33 per share).
The company "New Constructs" does have some mechanism to create a standard "corrected" earnings report that reads past these financial tricks. Its supposedly based on an AI model - been happy with their reports so far - but they are a private company. It would be nice if there was a true standard that did the same that companies had to report in.
There is no trickery. Uber did lose $2.6 billion in the quarter but it also turned cash flow positive and posted $382 million in free cash flow.