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Alphabet Earnings Release FY23 Q3 [pdf]

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Re: Alphabet Earnings Release FY23 Q3 [pdf]

#11

Post by y04nn »

resolutebat wrote: post #3

Why the huge jump from $83M to $1666M in "unallocated corporate costs"? The footnote says only $1M of that was hedging losses.

It's explained the paragraph above.

> As announced on April 20, 2023, we brought together part of Google Research (the Brain team) and DeepMind to significantly accelerate our progress in artificial intelligence (AI). The group, called Google DeepMind, is reported within Alphabet's unallocated corporate costs prospectively beginning in the second quarter of 2023. Previously, the Brain team was included within Google Services.

Re: Alphabet Earnings Release FY23 Q3 [pdf]

#12

Post by lancewiggs »

resolutebat wrote: post #3

Why the huge jump from $83M to $1666M in "unallocated corporate costs"? The footnote says only $1M of that was hedging losses.

"As announced on April 20, 2023, we brought together part of Google Research (the Brain team) and DeepMind to significantly accelerate our progress in artificial intelligence (AI). The group, called Google DeepMind, is reported within Alphabet's unallocated corporate costs prospectively beginning in the second quarter of 2023. Previously, the Brain team was included within Google Services."

Re: Alphabet Earnings Release FY23 Q3 [pdf]

#14

Post by dang »

ocdtrekkie wrote: post #5

[flagged]

Would you please stop posting these? Pre-existing agendas aren't ok on HN because they aren't curious conversation. Obviously criticisms of $BigCo are fine on HN (every thread fills up with them anyhow), but the high-order bit should be curiosity.

Taking HN threads on generic flame tangents in a fixed and repetitive way, which your account has been doing for a long time now, is not what this site is for.

https://news.ycombinator.com/newsguidelines.html

Re: Alphabet Earnings Release FY23 Q3 [pdf]

#15

Post by jsnell »

lancewiggs wrote: post #12
resolutebat wrote: post #3

Why the huge jump from $83M to $1666M in "unallocated corporate costs"? The footnote says only $1M of that was hedging losses.

"As announced on April 20, 2023, we brought together part of Google Research (the Brain team) and DeepMind to significantly accelerate our progress in artificial intelligence (AI). The group, called Google DeepMind, is reported within Alphabet's unallocated corporate costs prospectively beginning in the second quarter of 2023. Previously, the Brain team was included within Google Services."

That's not it, the 2022 segment numbers have been recast to account for that reporting change. Most of the difference seems to be explained in the "Reductions in Our Workforce and Office Space" section ($870M) and a reduction in hedging gains ($639M).

Re: Alphabet Earnings Release FY23 Q3 [pdf]

#16

Post by resolutebat »

gniv wrote: post #10
resolutebat wrote: post #3

Why the huge jump from $83M to $1666M in "unallocated corporate costs"? The footnote says only $1M of that was hedging losses.

Read further down, under "Reductions in Our Workforce and Office Space" Edit: That’s only a small part indeed.

This totals only ~$310M for Q3:

Employee severance and related charges: $86 million

Real estate exit charges: $16 million

Accelerated rent and accelerated depreciation: $207 million

Looks like Google Brain/Deepmind accounts for most of the remaining $1B-plus.

Re: Alphabet Earnings Release FY23 Q3 [pdf]

#17

Post by impulser_ »

Google is still the greatest business of all time.

Despite people thinking it was heading for a decline due to Bing, ChatGPT, AI ect. It just posted another quarter with all-time high revenue and this year will be its best year ever.

All sectors are growing and profit, minus other bets.

120B in cash.

25 years of growth without a single year of revenue decline is crazy at 300B yearly revenue.

Re: Alphabet Earnings Release FY23 Q3 [pdf]

#18

Post by resolutebat »

etamponi wrote: post #13
mfrc wrote: post #8

Cloud missed; shares fell :(

Thanks for explaining the after market drop! What was the target for cloud?

Google’s cloud business fell short of Wall Street's estimates, topping out at $8.41 billion in the quarter versus expectations of $8.6 billion.

https://finance.yahoo.com/news/alphabet-q3-earnings-12311976...

Re: Alphabet Earnings Release FY23 Q3 [pdf]

#20

Post by isusmelj »

Can anyone explain why servers are now more useful for longer than they used to be? I feel the world is spinning faster, and new tech comes out faster. Especially with faster networking and more compute.

In the document they mention this:

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 was a reduction in depreciation expense of $977 million and $2.9 billion and an increase in net income of $761 million and $2.3 billion, or $0.06 and $0.18 per basic and $0.06 and $0.18 per diluted share for the three and nine months ended September 30, 2023, respectively.

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