Alphabet reported their first quarter results earlier this week. I think the best approach to companies that cover a lot of ground is to split the article into two parts. The first one will consist of an overall financial analysis of how the company as a whole performed. In the second part, we’ll go through each business unit with a bit more detail.
Hey John! management said that some SBC awards were moved from the first Q to the second, so it should get a step up in the coming quarter. Since it doesn't affect the whole year compensation, I don't think it matters that much.
On FCF, I'd pay closer attention to CapEx, management guided for a step up in CapEx as well, meaning FCF should come lower in the next Q (ceteris paribus).
Any comments on SBC use and impact on FCF?
Hey John! management said that some SBC awards were moved from the first Q to the second, so it should get a step up in the coming quarter. Since it doesn't affect the whole year compensation, I don't think it matters that much.
On FCF, I'd pay closer attention to CapEx, management guided for a step up in CapEx as well, meaning FCF should come lower in the next Q (ceteris paribus).