Why did this company's net income significantly increase in 3rd quarter in 2020?
Personal Finance & Money Asked by Growingwintegrity on July 21, 2021
This is quarterly income statement for this company:
I want to know why this company’s 3rd quarterly income increased from -4 to 896.
and how do I find out about the answer?
Thank you in advance.
One Answer
From their Q3 2020 financial results press release
Net income of $902 million primarily due to the reversal of a portion of U.S. valuation allowance relating to net operating loss carryforwards resulting in a non-cash benefit of $895 million.
Correct answer by Mark on July 21, 2021
Add your own answers!
Ask a Question
Get help from others!
Recent Answers
- Jon Church on Why fry rice before boiling?
- Joshua Engel on Why fry rice before boiling?
- Lex on Does Google Analytics track 404 page responses as valid page views?
- haakon.io on Why fry rice before boiling?
- Peter Machado on Why fry rice before boiling?
Recent Questions
- How can I transform graph image into a tikzpicture LaTeX code?
- How Do I Get The Ifruit App Off Of Gta 5 / Grand Theft Auto 5
- Iv’e designed a space elevator using a series of lasers. do you know anybody i could submit the designs too that could manufacture the concept and put it to use
- Need help finding a book. Female OP protagonist, magic
- Why is the WWF pending games (“Your turn”) area replaced w/ a column of “Bonus & Reward”gift boxes?