this post was submitted on 20 Dec 2023
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That's not what profit means.
Their complete butchering of the basics makes it really hard to take their analysis of cash flow seriously.
I'm very confused, are they taking costs away from net profits which would already be inclusive of costs?
Not a clue. I didn't go deeper. If I was guessing, the 49 million is supposed to be their actual revenue (eg excluding platform fees. I'm not actually sure how they officially treat the platform cuts in their books).
But it's not profit (or if it is then subtracting cost again is wrong).