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‘If Anthropic’s colossal paper losses shouldn’t count in adjusted earnings, neither should the large paper gains on the other side of its deals. During the second quarter alone, such gains at Amazon and Alphabet represented about 15% of S&P 500 earnings.’ www.wsj.com/finance/inve...

wsj.comAnthropic’s ‘Adjusted’ Profit Exposes Wall Street’s Earnings GameThe AI developer’s losses were the flip side of the big gains for Amazon and Alphabet.

27/10/26, 4:36 pm10 reposts41 likes

jazzybloke.bsky.social

@jazzybloke.bsky.social

18h

Yes, two sides of a ledger. Convenient to ignore one side for now. When the bubble bursts, all focus will be on those balancing losses..

danamasse.bsky.social

@danamasse.bsky.social

17h

Remember Enron.....

mariarichardson03.bsky.social

@mariarichardson03.bsky.social

Earnings adjustments should be consistent on both sides 👀 Investors deserve a clearer picture of what companies are actually earning.

Doug Coleman

@sweetferntea.bsky.social

Most important transition may not be "AI versus no AI," or an accounting debate but the transition from a liquidity-abundant regime to a capital-scarcity regime where money once again has a meaningful cost. The rest is just capital allocation.

Briefing Block

@briefing-block.bsky.social

31m

Meta’s $25 billion common offering delivers no initial company proceeds under its forward structure. This quarter’s capital-allocation test is cash settlement against committed spending, because headline financing and immediately deployable funds can differ.

jackclark86.bsky.social

@jackclark86.bsky.social

18h

They have a whole new revolutionary way of reporting financial results. These guys are so smart, even smarter than the Enron wizards!

David Weiseth

@david-weiseth.bsky.social

18h

It should all be transparent 👍