Tài liệu Nothing But Net 2009 Internet Investment Guide 21 ppt

... 05 Januar y 2009 Imran Khan (1 -212 ) 622-6693 imran.t.khan@jpmorgan.com Table 122: GOOG Annual Income Statement $ in millions 2007 2008E 2009E 2010E Gross Revenue 16,594.0 21, 405.2 22,616.7 ... 22,173.8 30 ,211 .6 - - Non-marketable equity securities 1,059.7 1,100.9 1,100.9 1,100.9 Property, Plant, and Equipment 4,039.3 5,587.2 7,095.2 8,595.2 Goodwill 2,299.4 4, 821. 6 4...

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

... 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 growth continued ... 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 n...

Ngày tải lên: 24/12/2013, 17:15

... Equity Research 05 Januar y 2009 Imran Khan (1 -212 ) 622-6693 imran.t.khan@jpmorgan.com The Challenges for Online Video Online video, like social networking, is an Internet medium that has taken ... 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...

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 ... CNNIC (2007), Pew Internet Study (Aug '06), NDIA Survey on Computer and Internet Use (Dec '06) 120 Global Equity Research 05 Januar y 2009 Imran Kh...

Ngày tải lên: 24/12/2013, 17:15

... 2007 2008E 2009E 2010E 2011E 2012E 0% 10% 20% 30% 40% 50% 60% Internet population (lhs) Internet penetration (rhs) mn 39% 23% 37% 35% 32% 28% 21% 37% 24% 29% 31% 35% 18% 9% 22% 22% 21% 21% 10% 17% 19% 20 25 30 35 40 45 50 2006 ... longer term. Figure 85: Internet Audience Growth (market share) Source: Liveinternet.ru Table 77: Internet Market Breakdown Revenue breakdown,...

Ngày tải lên: 21/01/2014, 23:20

... 35.0 31.5 33.1 39.5 37.6 35.6 30.0 29.1 23.9 26.5 26.0 25.9 % of revenue 22.3% 21. 2% 21. 1% 21. 6% 21. 4% 21. 8% 19.6% 21. 1% 18.7% 20.0% 19.3% 19.9% Amortization of intangible assets 5.8 5.5 6.7 8.0 ... Januar y 2009 Imran Khan (1 -212 ) 622-6693 imran.t.khan@jpmorgan.com Table 179: VCLK Annual Balance Sheet $ in millions 2007 2008E 2009E 2010E Current Assets Cash &a...

Ngày tải lên: 26/01/2014, 18:20

... FLOWS Capital Expenditures (602.3) (732.9) (750.0) (790.0) Net Investment 216 .4 (380.4) - - ST Investment Purch. (112.0) - - - ST Investments Mat. 899.0 - - - Acquisitions (973.6) (209.2) ... 05 Januar y 2009 Imran Khan (1 -212 ) 622-6693 imran.t.khan@jpmorgan.com Table 193: BIDU Annual Balance Sheet $ in millions 2007 2008E 2009E 2010E Cash & Cash Equivalents 211...

Ngày tải lên: 26/01/2014, 18:20

... 288.7 345.7 378.5 Net Interest Income 15.0 19.9 25.4 34.5 Net Other Income -6.8 -21. 1 0.0 0.0 Pre Tax Profit 168.2 260.5 334.0 371.3 Tax Expense/(Credit) -0.4 -62.3 -52.2 -57.8 Net Profit 167.8 ... Research 05 Januar y 2009 Imran Khan (1 -212 ) 622-6693 imran.t.khan@jpmorgan.com Table 204: NTES Annual Cash Flow Statement $ in millions 2007 2008E 2009E 2010E Net Income 167...

Ngày tải lên: 26/01/2014, 18:20