Tài liệu Nothing But Net 2009 Internet Investment Guide 15 ppt

... Figure 85: Internet Audience Growth (market share) Source: Liveinternet.ru Table 77: Internet Market Breakdown Revenue breakdown, $ mn 2007 2008E 2009E 2010E 2011E 2012E 2013E 2014E 2015E Yandex ... Snapshots 19% 25% 54% 48% 43% 37% 31% 15 25 35 45 55 65 75 85 2006 2007 2008E 2009E 2010E 2011E 2012E 0% 10% 20% 30% 40% 50% 60% Internet population (lhs) Internet penetration (r...

Ngày tải lên: 21/01/2014, 23:20

... J.P. Morgan Internet, Media and Entertainment Team Imran Khan Imran Khan is a Managing Director and the Head of Global Internet Research at J.P. Morgan. In addition to his Internet coverage, ... non-securities-related services. • Investment Banking (past 12 months): JPMSI or its affiliates received in the past 12 months compensation for investment banking services from Ninetow...

Ngày tải lên: 15/12/2013, 10:15

... increased awareness of mobile Internet capabilities. With a handset geared toward improving mobile Internet use, consumers significantly increased their use of mobile Internet services. Nielsen Mobile ... users access the mobile Internet, making them 5x as likely to do so as the average mobile user. Table 31: Top Devices Amongst Mobile Internet Users % of mobile Internet user...

Ngày tải lên: 24/12/2013, 17:15

... print, TV, radio, Internet, or in-venue. This product helps leverage existing ads with an interactive call to action and a method for success reporting. mSnap mSnap is a mobile ad network, enabled ... feature sets. 70 Global Equity Research 05 Januar y 2009 Imran Khan (1-212) 622-6693 imran.t.khan@jpmorgan.com 2009 Social Networks Primer Key Takeaways • Runaway usage gro...

Ngày tải lên: 24/12/2013, 17:15

... Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Current Shutterfly 39c 29c 19c 19c 19c 15c Kodak Gallery 29c 25c 15c 15c 15c 15c SnapFish 25c 19c 12c 12c 9c 9c Source: Company reports ... Research 05 Januar y 2009 Imran Khan (1-212) 622-6693 imran.t.khan@jpmorgan.com 2009 Cloud Computing Outlook Why “Cloud”? The name serves as a metaphor for the Internet, with processing ... platform, th...

Ngày tải lên: 24/12/2013, 17:15

... Perspective Internet Usage Growth – Same Old Story, But Is That What Is Driving the Online Ad Spending Growth Expected in 2009? We expect China's Internet user base to grow around 20% Y/Y in 2009 ... thousand) based price for Internet is around Rmb15-20, vs. Rmb50-100 for TV. Therefore, from a cost and reach basis (Internet can reach the whole nation, vs. local TV), the...

Ngày tải lên: 24/12/2013, 17:15

... term investments (15, 997.1) (7,814.3) - - Maturities and sale of short term investments 15, 659.5 9,634.9 - - Investments in non-marketable equity securities (34.5) (45.9) - - Acquisitions, net ... outstanding 155 .1 154 .4 152 .3 149.7 146.5 146.2 140.1 140.1 140.1 140.1 140.1 140.1 Source: Company reports and J.P. Morgan estimates. 201 Global Equity Research 05 Januar y...

Ngày tải lên: 21/01/2014, 23:20

... Intangible assets, net 611.5 556.5 556.5 556.5 Other assets, net 503.9 226.1 226.1 226.1 Investments in equity interests 2,180.9 3,114.9 3,114.9 3,114.9 Total assets 12,229.7 14,858.9 15, 835.6 16,974.0 ... 3,237.7 5,312.2 6,419.0 7,667.3 - LT investments in marketable securities 362.0 85.1 85.1 85.1 Restricted long-term investments - - - - Property and equipment, net 1,331.6...

Ngày tải lên: 26/01/2014, 18:20

... 307.1 449.7 Net Interest Income 6.4 6.6 11.3 18.7 Net Other Income 2.7 1.4 0.0 0.0 Pre Tax Profit 81.8 169.8 233.1 338.7 Tax Expense/(Credit) 1.7 -15. 2 -24.5 -35.0 Net Profit 83.5 154 .6 208.6 ... diluted EPS of US$1.27, down 14% Q/Q but up 37% Y/Y. • 2009 Drivers: In our view, the following factors will drive shares in 2009: (1) more clarity on 2009 impact from medical &a...

Ngày tải lên: 26/01/2014, 18:20

... 26.5 22.5 19.4 18.0 Preferred stock - - - - Total equity 143.4 150 .1 147.4 147.5 Total liabilities and equity 156 .6 159 .7 154 .4 155 .0 Source: Company reports and J.P. Morgan estimates. ... 7.9 10.4 12.3 10.1 13.9 15. 2 16.4 15. 0 16.3 17.6 18.5 Online Games 60.3 60.4 60.5 67.2 79.2 86.6 99.3 102.7 106.2 111.3 115. 0 117.8 COGS -13.0 -12.4 -13.6 -14.4 -15. 6 -18.5 -23...

Ngày tải lên: 26/01/2014, 18:20