• Jaytreeman@kbin.social
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    10 months ago

    These numbers are gross profit. A quick search would verify this for yourself.
    You seem to misunderstand what gross profit is because you decided to make a weird word salad.
    Gross profit is the profit a business makes after subtracting all the costs that are related to manufacturing and selling its products or services.
    So the numbers are relevant. It’s not worker wages that are the driving inflation. It’s not government handouts driving inflation. It’s corporate profits that are driving inflation

    • PatFusty@lemm.ee
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      10 months ago

      Gross profit is NOT how much money a company makes after all costs. This is the basic misunderstanding. Here is an example

      Kraft Heinz Quarterly Revenue

      2023-09-30 $6,570

      2023-06-30 $6,721

      2023-03-31 $6,489

      2022-12-31$7,381

      TOTAL: 27.161B

      Kraft Heinz Quarterly Gross Profit

      2023-09-30 $2.235B

      2023-06-30 $2.261B

      2023-03-31 $2.113B

      2022-12-31 $2.364B

      Total: $8.973B

      Kraft Heinz Quarterly Net Profit

      2023-09-30 $262M

      2023-06-30 $1,000M

      2023-03-31 $836M

      2022-12-31 $890M

      Total: 2.988B

      https://www.macrotrends.net/stocks/charts/KHC/kraft-heinz/revenue

      For clarification, I’m not saying I’m against increasing labor pay. I am just saying the numbers used are misleading.

      • alexrmay91@lemm.ee
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        10 months ago

        But only some numbers. Apple’s, for instance, is net profit from what I can see. Heinz isn’t. I haven’t looked into any more of them, but they’re just inconsistent.

        Crappy posts like this bug me so much because it makes “my side” look like we’re full of shit. There are mountains of true and verified facts to support the conclusion that workers should be paid more and corporations are ruthlessly greedy.

        • PatFusty@lemm.ee
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          10 months ago

          This exactly. We don’t need to fluff or bullshit numbers just to prove that corporations are fucking over their labor and the customers.

            • alexrmay91@lemm.ee
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              10 months ago

              As much as I hate Twitter, the feature where users can add context would be amazing on other platforms. Would love to see it on Lemmy.

        • cashew@lemmy.world
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          10 months ago

          Anyone who has done accounting 101 knows that Gross Profit is Revenue less Cost of Goods Sold.

          Perhaps you can pay provide evidence of how fundamental accounting is wrong instead?