Tài liệu Nothing But Net 2009 Internet Investment Guide 2 docx

... Forecast Units as indicated United States 20 06 20 07 20 08E 20 09E 20 10E 20 11E 08-'11E CAGR Internet Population (M) 20 3 21 1 21 7 22 2 22 7 23 1 2. 2% Queries / Month / User 47 57 68 79 90 ... Internet Population (M) 710 820 924 1, 020 1,113 1 ,20 5 1 ,29 5 1,380 1,471 6.9% Queries / Month / User 17 22 29 36 44 53 60 68 74 12. 1% Number of Queries (M) 1 4...

Ngày tải lên: 15/12/2013, 10:15

... report. Global Equity Research 05 January 20 09 Nothing But Net 20 09 Internet Investment Guide Global Internet Imran Khan AC (1 -21 2) 622 -6693 imran.t.khan@jpmorgan.com J.P. Morgan ... Figure 2: Newspaper Ad Spend Continues to Decline $ in billions 46 .2 48 .2 49.4 49.3 37 .2 45.4 -18% -8% 0% 2% 5% 5% 0.0 10.0 20 .0 30.0 40.0 50.0 60.0 20 0...

Ngày tải lên: 15/12/2013, 10:15

... ($0.05) $0. 02 $0. 02 Diluted 0 .28 (0.05) 0. 02 0. 02 Adjusted EPS Basic $0 .27 $0.17 $0 .22 $0 .23 Diluted 0 .25 0.16 0 .22 0 .23 PF EPS Basic $0 .20 $0.06 $0. 12 $0.13 Diluted 0.18 0.06 0. 12 0.13 Weighted ... 1 02. 8 20 8.5 22 4.4 26 6.1 40% 8% 19% EBITDA 33.3 33 .2 49.3 62. 0 1% 49% 26 % EPS $0.41 $0.03 $0.15 $0.31 -93% 456% 91% Consensus Revenue 1 02. 5 20 3.1...

Ngày tải lên: 26/01/2014, 18:20

... Sharecount 23 .9 24 .1 24 .5 26 .8 24 .9 25 .0 25 .1 27 .1 26 .1 26 .4 26 .7 27 .5 Shares outstanding - basic 23 .9 24 .1 24 .5 24 .5 24 .9 25 .0 25 .1 25 .4 26 .1 26 .4 26 .7 27 .0 Shares outstanding - diluted 23 .9 24 .1 24 .5 ... 14.3% 23 .5% 24 .3% 28 .1% 14.6% 23 .6% 24 .0% 28 .0% 14.3% General and Administrative 22 .3% 22 .6% 22 .6% 9.7% 22 .2% 2...

Ngày tải lên: 26/01/2014, 18:20

... 25 .6 22 .5 27 .0 23 .5 27 .2 28.0 28 .4 EBITDA Margin 26 .2 30.7 31.8 31 .2 28 .2 29.7 26 .4 31.4 28 .6 32. 0 32. 5 33 .2 Net Margin 16.8 24 .2 26.7 24 .8 22 .5 27 .6 20 .8 25 .7 22 .9 25 .8 26 .3 26 .8 Adj. Net ... 29 .4 Advertising 31.8 41 .2 45.8 50.1 47.8 64.9 76 .2 69.3 62. 4 74.9 87.6 89.4 Others 1.3 1.6 1.9 1.9 1.8 1.9 2. 1 2. 1 2. 1 2. 2 2. 2...

Ngày tải lên: 26/01/2014, 18:20

... 39.9 126 .7 23 .2 18.5 Gross Profit 42. 5 156 .2 22. 1 17.4 EBIT 32. 2 321 .1 27 .6 17.3 EBITDA 33 .2 261.8 26 .9 17.6 Diluted EPS 33.8 314.1 27 .2 17 .2 Adj. Diluted EPS 32. 5 25 6.3 25 .2 16 .2 Source: ... Consensus Revenue 120 .4 427 .5 529 .2 613.9 126 % 24 % 16% EBITDA 53.8 187 .2 234.0 28 1.5 25 7% 25 % 20 % GAAP EPS 1.14 3.73 4.50 5.13 311% 21 % 14%...

Ngày tải lên: 26/01/2014, 18:20

... -22 1.1 -23 1.4 -24 1.0 -22 7.6 -25 1.0 -26 5.3 -27 0 .2 -334.8 -344.7 Gross Profit 130.3 114.6 1 32. 2 20 2.5 20 8.0 21 4.0 180.9 195.6 20 2.0 20 9.1 23 5.4 23 9.1 Operating Expenses -58.1 -74.5 -88.5 - 122 .6 ... (US$) 2. 67 1. 92 1.30 2. 94 3 .21 4 .20 3.57 2. 49 2. 60 2. 73 2. 75 2. 77 After Tax EPS Diluted (US$) 2. 65 1.90 1 .29 2. 93 3 .21 4.19 3.56 2. 47 2. 57 2...

Ngày tải lên: 26/01/2014, 18:20

... 28 -Nov-06 UW 4.38 4.10 23 -Mar-07 UW 4 .26 3.90 27 -Jul-07 UW 3.74 3 .20 28 -Jun-08 N 2. 03 3.00 22 -Jul-08 N 2. 17 2. 80 338 Global Equity Research 05 January 20 09 Imran Khan (1 -21 2) 622 -6693 ... 05-Oct-08 OW 32. 10 53.00 335 Global Equity Research 05 January 20 09 Imran Khan (1 -21 2) 622 -6693 imran.t.khan@jpmorgan.com 0 72, 704 145,408 21 8,1 12...

Ngày tải lên: 15/12/2013, 10:15

... indicated United States 20 06 20 07 20 08E 20 09E 20 10E 20 11E 08-'11E CAGR Internet Population (M) 20 3 21 1 21 7 22 2 22 7 23 1 2. 2% Pages Viewed / User / Day 45 47 49 51 52 54 3.4% Total Pages ... Units as indicated Global 20 02 2003 20 04 20 05 20 06 20 07 20 08E 20 09E 20 10E 20 11E 08-'11E CAGR Internet Population (M) 593 710 820 92...

Ngày tải lên: 15/12/2013, 10:15

... indicated US eCommerce Forecast 20 04 20 05 20 06 20 07 20 08E 20 09E 20 10E 20 11E '08-'11E CAGR Internet population (M) 186 195 20 3 21 1 21 7 22 2 22 7 23 1 2. 2% Online shoppers 104 117 130 ... shopper / month 2. 00 2. 03 2. 11 2. 10 2. 11 2. 09 2. 12 2 .24 1.9% Total shopping sessions / year (M) 2, 497 2, 847 3 ,28 9 3,618 3,878 4, 020 4, 324 4, 72...

Ngày tải lên: 15/12/2013, 10:15