This US$8b MTM profit was used to buffer up Alphabet's earnings and it should be excluded to determine core earnings. It is a non- cash item, which is not subject to corporate tax. Excluding the item, earnings would have been a miss and yet Wall Street is celebrating.

Alphabet’s Profit Gets $8 Billion Boost From SpaceX Investment

Alphabet Inc. said its first-quarter profit was boosted by $8 billion in unrealized gains from an investment in a private company. That company is Elon Musk’s Space Exploration Technologies Corp., according to a person familiar with the matter.Internet search giant Google, owned by Alphabet, has been a major investor in SpaceX since at least 2015, when it joined Fidelity Investments in a $1 billion investment for a combined stake of about 10%, Bloomberg reported at the time. In December 2024, Sp
Alphabet’s Profit Gets $8 Billion Boost From SpaceX Investment

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