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fh3131 t1_jabv6py wrote

Not great profits.

Also, *FY22


IncomeStatementGuy OP t1_jabvjns wrote

It's their fiscal year 2023 which ended on January 31 2023.

Confusing.. companies should just stick with January 1 to December 30 fiscal years if you ask me.


fh3131 t1_jabw46w wrote

Wow, I had never heard of a fiscal year ending on 31st January, thanks for clarifying


Redditaccount2322 t1_jacvdl4 wrote

Our FY ends in January 31st as well. It's fairly common in tech I believe for 2 reasons --

  1. Provides additional time to close enterprise deals after the end of the year - closing deals December 31st can be challenging, to say the least
  2. Reduces cost of accounting because most firms end their FY December 31st which is busy season for the big 4

Retail companies sometimes do this as well - or end a full quarter after March 31st instead of Dec 31st. Good luck to all the EY, PWC, DeLoitte people if every company ended Dec 31st lol


IMovedYourCheese t1_jad1ydy wrote

It depends. Lots of companies aim for 0 profit, because why pay high taxes and give money to shareholders when you can invest it back into the business instead? And it is even more relevant for high growth companies when additional customers are more valuable than money in the bank. Amazon famously did this for like two decades.