image_pdfimage_print’s Accounting Pornography

I wrote the following analysis on’s GAAP accounting manipulation for Seeking Alpha… (AMZN) released its earnings on Thursday, February 1st after the market closed. The headline net income number was $ 3.85/share. This blew away Wall Street’s estimate of $ 1.85/share, which is a bit peculiar since the traditional “beat the Street” earnings game is accomplished by guiding Wall Street analysts to an earnings consensus that is slightly below the posted result. The revenue growth rate was truly impressive. For Q4 2018 vs. 2017, revenues jumped 38.2%. For the full year, revenues grew 30.8%. However, without question AMZN’s […]

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