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There's still a question of what you consider profitable.

A company may make more in revenue than strictly expenses but stock-based compensation is often not considered an expense so if you add those into the expense side it could change profitability.

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Stock-based compensation is absolutely considered an expense under US GAAP.

Which is why companies report non-GAAP numbers.

https://abc.xyz/assets/71/a5/78197a7540c987f13d247728a371/20...

> We provide non-GAAP free cash flow because it is a liquidity measure that provides useful information to management and investors about the amount of cash generated by the business that can be used for strategic opportunities, including investing in our business and acquisitions, and to strengthen our balance sheet.

But honestly, profitability doesn’t matter. All of the major tech companies were profitable and still had tens of thousands of layoffs between them.

Layoffs in big tech are mostly to place workers in their place and shake the market, they've definitely been able to drive down salaries these past two years.

Yes - I think layoffs are also backlash against WFH.

Employees were getting a bit too uppity.

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