A profit measure a company defines itself, usually by excluding items it calls unrepresentative; it sits beside the audited figure, not instead of it.
「非 GAAP
| Move变动 | Where it appeared出现位置 | What it means这句话在说什么 |
|---|---|---|
| $1.62bn | Anthropic's $80 billion loss is a mirror of its valuation 「非 GAAP · 第 5 张术语卡 | Adjusted operating income of $1.62 billion, against a GAAP operating loss of $693 million. 非 GAAP 本身合法，问题在「剔什么」。剔除股权激励最常见，也最有争议——那是真实的成本，只是不花现金。判断办法很土：把非 GAAP 与 GAAP 的差额逐年列出来，看它是不是越剔越多。差额扩大，通常意味着调整在替业绩说话。 |
| — | Accenture Brushes Off the AI Disruption Fears With a Record Year of Bookings 「非 GAAP · 第 5 张术语卡 | Accenture's fiscal-year GAAP earnings per share was $13.56, but adjusted EPS was $13.97 — the gap is the business optimisation costs. 美国上市公司必须按 GAAP 报数，同时可以自愿披露「调整后」数字。被剔除的通常是：重组与遣散费、商誉减值、股权激励、并购摊销。判断方法：把调整项逐条看一遍——如果同一项费用「年年都一次性」，那它其实已经是经常性成本。 |
“Adjusted operating income of $1.62 billion, against a GAAP operating loss of $693 million.”
“Accenture's fiscal-year GAAP earnings per share was $13.56, but adjusted EPS was $13.97 — the gap is the busi…”