美科技巨头财报“水分”显现:股权投资浮盈成盈利增长主要推手

智通财经
Aug 14
【美科技巨头财报“水分”显现:股权投资浮盈成盈利增长主要推手】分析指出,部分头部企业的利润暴增在很大程度上依赖于股权投资带来的账面浮盈,而非核心业务的实质性增长,这增加了投资者评估企业真实经营状况的难度。数据显示,Alphabet上季度高达71%的利润来源于“其他收入”,主要得益于其对SpaceX和Anthropic等初创企业股权投资的重新估值。同样,Amazon上季度利润中有66%也来自“其他收入”,核心驱动力是其对AI初创公司Anthropic的投资收益。分析人士指出,这类因股权价值波动产生的一次性收益,掩盖了企业核心业务的真实盈利能力。对于投资者而言,在科技巨头普遍加大AI基础设施投资的背景下,如何从繁杂的财报中剥离非经常性损益,准确甄别核心业务的真实盈利水平,已成为当前市场面临的重要挑战。

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