this post was submitted on 25 Jan 2024
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It's an easy win for the balance sheet. Their products are still sellable, the services should be more or less unaffected (for the next few quarters), so they'll continue to get the same revenue. But their costs just decreased, so they look more profitable.
It looks good on quarterly calls. It's a good way to juice a stock.
Short-term profits in exchange for long-term damage!