[matt4077]

Yes, but note that a lot of investments can be made without reducing profit.

"Expenses", in this sense is not "cash out". When you buy a building, you're just moving value from one store to another (cash -> assets). Only the deprecation (something like 5% p.a. for a building) has an impact on profits.

(although, for technology companies, investments often hurt profits more than for more traditional companies, mainly b/c typical tech investments are hard to value accurately and therefore deprecate immediately or faster – self-created IP as one example)