Comment accounting magic? (Score 3, Interesting) 17
perhaps Google didn't actually make any money and this paper profit is due to accounting trickery? I'm not well versed in accounting practices, but this snippet from their earnings release seems a bit suspicious:
Change in Useful Lives of Our Server and Network Equipment
In January 2023, we completed an assessment of the useful lives of our servers and network equipment and
adjusted the estimated useful life of our servers from four years to six years and the estimated useful life of certain
network equipment from five years to six years. This change in accounting estimate was effective beginning in fiscal
year 2023 and the effect for the three months ended March 31, 2023 was a reduction in depreciation expense of
$988 million and an increase in net income of $770 million, or $0.06 per basic and $0.06 per diluted share.