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Alphabet’s earnings look better than ever thanks to a new accounting rule

Alphabet’s earnings look better than ever thanks to a new accounting rule

An obscure accounting change added billions to Alphabet’s bottom line during the first quarter of 2018. On Monday, the web giant posted (pdf) earnings of $13.33 per share during the period, 43% more than analysts surveyed by FactSet expected, thanks in part to a new US Securities and Exchange rule that changed the way Google…