More and more I’m seeing companies use the latter. In some cases I understand—for example GAAP stupidly made equity investments subject to net income, so for example Berkshire Hathaway ‘loses money’ when the market is down. But in other cases I just don’t understand why companies can choose one or the other.
For example, IBM’s Q3 included a massive loss when accounting by GAAP. But on their earnings call they reported roughly a buck-seventy per share.
Was this due to the losses after Kyndryl’s spinoff? Any help would be greatly appreciated.
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