Tài liệu Nothing But Net 2009 Internet Investment Guide 4 doc

... 2 ,49 7 2, 847 3,289 3,618 3,878 4, 020 4, 3 24 4,7 24 6.8% Average price / session $39.50 $41 .25 $43 .00 $45 .50 $45 .00 $45 .50 $47 .25 $47 .75 2.0% Total eCommerce revenue (US $M)) 98, 644 117 ,41 9 141 ,43 7 ... 98, 644 117 ,41 9 141 ,43 7 1 64, 612 1 74, 525 182,902 2 04, 302 225, 549 8.9% Product return rate 10.0% 9.0% 9.0% 8.0% 8.0% 8.0% 8.0% 8.0% 0.0% Net Revenue 88,780 106,...

Ngày tải lên: 15/12/2013, 10:15

... Inc., to this report. Global Equity Research 05 January 2009 Nothing But Net 2009 Internet Investment Guide Global Internet Imran Khan AC (1-212) 622-6693 imran.t.khan@jpmorgan.com ... 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 2003 20 04 2005 2006...

Ngày tải lên: 15/12/2013, 10:15

... 0.0% $ Revenue / Click $0 .46 $0 .47 $0 .47 $0 .45 $0 .48 $0 .48 0.7% US Search Forecast ($M) 8,602 11,7 64 14, 518 15,951 20,102 23,576 17.5% Y/Y Growth 47 .2% 36.8% 23 .4% 9.9% 26.0% 17.3% Source: ... 38.7% 41 .7% 43 .9% 44 .5% 44 .0% 43 .8% 43 .7% 43 .8% -0.1% % Clickthrough Rate 16.3% 17.3% 18.8% 20.6% 21.5% 22.0% 22.1% 22.2% 22.8% 1.1% $ Revenue / Click $0.33 $0.35 $0.36 $...

Ngày tải lên: 15/12/2013, 10:15

... Reliance on Internet connection. Lose your link to the network, and you lose your documents – a tradeoff some may not be willing to risk. Some providers let users edit documents offline – but doing ... Research 05 Januar y 2009 Imran Khan (1-212) 622-6693 imran.t.khan@jpmorgan.com Internet for Social Good We feel it is important to recognize the increased usage of Internet sit...

Ngày tải lên: 24/12/2013, 17:15

... 16,375 21,833 49 ,125 Game masters and other labor cost 48 ,000 64, 000 144 ,000 Marketing and promotion 55 ,44 0 110,880 158 ,40 0 Other operating expenses 47 ,520 95, 040 158 ,40 0 Gross Net Income (88,135) ... 1Q06 2Q06 3Q06 4Q06 1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 Shanda 2 ,47 0 2,230 2, 140 2,290 2, 340 2,720 3,080 3 ,47 0 4, 110 4, 240 Sequential growth -9.7% -4. 0% 7.0% 2.2% 16....

Ngày tải lên: 24/12/2013, 17:15

... 35,905.7 42 , 146 .1 48 ,6 84. 3 As % of total revenues 96.8% 96.5% 96.1% 95.3% 94. 4% 93 .4% Operating Income (Loss) 7 04. 2 925.3 1,229.6 1,770.8 2,500.2 3 ,46 2.6 Operating margin 3.2% 3.5% 3.9% 4. 7% 5.6% ... 1398.0 141 9.2 17 34. 3 28% 2% 22% EPS $0.35 $1.32 $1.20 $1. 54 18% -9% 28% Consensus Revenue 6563.6 19037.2 21700.5 2 549 2 66% 14% 17% EBITDA 388.9 1280.7 147 2 1 847...

Ngày tải lên: 21/01/2014, 23:20

... 2007 2008E 2009E 2010E Net sales 14, 835 18,711 21,6 94 26,165 Cost of sales 11 ,48 2 14, 5 64 17, 044 20,568 Gross profit 3,3 54 4, 147 4, 650 5,597 Gross Margins 22.6% 22.2% 21 .4% 21 .4% Fulfillment ... Q4-08E Q1-09E Q2-09E Q3-09E Q4-09E Net sales 3,015 2,886 3,262 5,673 4, 135 4, 063 4, 2 64 6, 249 4, 597 4, 499 4, 920 7,678 Cost of sales 2,296 2,185 2,500 4, 503 3...

Ngày tải lên: 21/01/2014, 23:20

... Equipment, Net 179.5 2 64. 2 361.1 46 9.5 Total Assets 8,295 .4 8,659.6 9,106.7 9,592.6 LIABILITIES Accounts Payable, Trade 852.3 746 .8 746 .8 746 .8 Deferred Merchant Bookings 609.1 644 .3 644 .3 644 .3 ... 58.5% 58.0% 58.0% Operating Income (Loss) 7,2 84. 7 8,917.8 10 ,49 0.3 12,151.7 14, 019.8 15, 842 .4 Operating margin 41 .4% 41 .0% 41 .2% 41 .5% 42 .0% 42 .0% Sour...

Ngày tải lên: 21/01/2014, 23:20

... Revenue Sales & marketing 45 .7% 45 .8% 42 .0% 40 .0% 49 .4% 44 .9% 42 .0% 40 .4% 42 .8% 41 .9% 40 .7% 39.7% Research & development 10.8% 11.9% 12.5% 12.7% 15.5% 12 .4% 11.8% 11.0% 10.7% 10.6% 10.2% ... 77 .4 97.8 1 64% 31% 26% EPS $ 0.12 $ 0 .42 $ 0.61 $ 0.77 116% 44 % 26% Consensus Revenue 84. 8 307.22 3 94. 13 506. 14 112% 28% 28% EBITDA 17.52 59 .44 83.21 111...

Ngày tải lên: 21/01/2014, 23:20

... $0.03 $0. 04 Diluted 0.05 0.03 0.05 0.05 0. 04 0.02 (0.00) 0.00 0.02 0.03 0.03 0. 04 Weighted average common shares: Basic 161 .4 153.9 149 .7 144 .4 142 .5 142 .9 142 .0 142 .0 142 .0 142 .0 142 .0 142 .0 Diluted ... value per share, 0.3 0 .4 0 .4 0 .4 Treasury stock, 2 ,49 6,326 shares and 2 ,49 6,326 (48 9.1) (49 3 .4) (49 3 .4) (49 3 .4) Additional paid-in capital 2,1 24. 0...

Ngày tải lên: 26/01/2014, 18:20