Tài liệu Nothing But Net 2009 Internet Investment Guide 22 pdf

... (0.3) - - - Net income (loss) available to common 9.5 16.0 24.2 33.7 Pro Forma Net Income to common 11.4 16.0 24.2 33.7 Net Attributable to preferred 1.9 - - - Net income ex. attributable to ... Dividends 0.0 0.0 0.0 0.0 Other, net 0.8 (1.4) 0.0 0.0 Net cash in financing activities (533.5) (674.0) 0.0 0.0 00 00 00 Net cash used in continuing operations (222 .6) 450.6 148.0 15...

Ngày tải lên: 21/01/2014, 23:20

... Forecast Units as indicated United States 2006 2007 2008E 2009E 2010E 2011E 08-'11E CAGR Internet Population (M) 203 211 217 222 227 231 2.2% Pages Viewed / User / Day 45 47 49 51 52 ... 05 Januar y 2009 Imran Khan (1-212) 622- 6693 imran.t.khan@jpmorgan.com 2009 (down from 7.2% in 2008) as social networking sites and blogs begin to mature and reach saturated penetrat...

Ngày tải lên: 15/12/2013, 10:15

... Bookings 58% penetration 37% penetration 13% penetration 17% penetration 20% penetration 23% penetration 40% penetration Source: PhoCusWright reports and J.P. Morgan estimates But Eastern Europe ... eCommerce growth than slower forms of Internet access. Other factors include: (1) continued rises in online shopping penetration in Western Europe, (2) continued investments by online re...

Ngày tải lên: 24/12/2013, 17:15

... 66.4% 89.4% 22. 6% 33.9% Bebo 45.6% -29.3% 36.1% -54.6% Classmates -3.1% 13.7% 5.6% 20.0% LinkedIn 127.3% 121.8% 170.4% 286.4% All Social Nets 23.9% 32.1% 9.3% 9.3% All Internet 14.3% 9.9% ... 15.2% Play games 14.2% Career networking 10.9% Source: J.P. Morgan Internet Team 2008 Consumer Survey When it comes to filling this user need, we believe social networks have two key comp...

Ngày tải lên: 24/12/2013, 17:15

... most users to access the Internet, with over two-thirds of all Internet users accessing the Internet from home. Access from an Internet café lost share to the home, but still grew almost 61% ... expect Internet users to grow by around 20% Y/Y in 2009 to reach ~320M, or the penetration rate to reach ~24% of the population by the end of 2009. Figure 57: China Internet Users a...

Ngày tải lên: 24/12/2013, 17:15

... supported by: (1) still-low Internet penetration, (2) diverse advertiser base, and (3) higher ROI. 123 Global Equity Research 05 Januar y 2009 Imran Khan (1-212) 622- 6693 imran.t.khan@jpmorgan.com ... particularly from lower-tier cities. (3) Increasing broadband penetration, with 214M broadband Internet users as of Jun- 08, or 85% of total Internet users; CAGR of ~100% ove...

Ngày tải lên: 24/12/2013, 17:15

... 70.6% 70.4% 70.8% 71.3% eFinancial Careers 16.9% 18.9% 21.9% 24.5% 24.7% 24.6% 24.9% 22. 0% 22. 9% 22. 9% 22. 8% 22. 7% Other 6.2% 7.6% 8.4% 7.0% 6.9% 7.3% 6.5% 6.1% 6.6% 6.7% 6.3% 6.0% Operating ... Januar y 2009 Imran Khan (1-212) 622- 6693 imran.t.khan@jpmorgan.com Table 95: NILE Annual Balance Sheet $ in millions 2007 2008E 2009E 2010E Assets Cash and cash equiva...

Ngày tải lên: 21/01/2014, 23:20

... -49.6% 28.7% 25.2% 24.8% 24.7% 20.0% 22. 3% 22. 9% 22. 7% 22. 9% Operating income (pro forma) 33.6% 32.4% 31.4% 34.4% 32.0% 31.9% 31.8% 28.9% 28.8% 29.4% 30.3% 29.8% Net income (reported) 21.3% 20.5% ... 23.0% 21.5% 21.5% 21.5% 21.5% Pro forma tax rate 25.6% 24.7% 10.4% 23.8% 22. 9% 21.5% 16.9% 23.0% 22. 5% 22. 5% 22. 5% 22. 5% Year-Over-Year Growth Payment revenue 27.7% 30.7%...

Ngày tải lên: 21/01/2014, 23:20

... minority int. (Pro Forma) (5.6) (4.5) - - Net Income (Reported) 157.1 189.1 163.1 227 .6 Net Income w/ FAS 123R Adjustment 157.1 189.1 163.1 227 .6 Net Income (Pro Forma) 182.5 281.3 257.1 340.5 ... International Revenue 39 38 44 44 51 53 53 39 46 47 41 34 Total Revenue 205 223 219 197 219 231 240 205 209 228 229 199 Y/Y revenue growth 17.0% 11.1% 23.7% 14.5% 6.8% 3.4% 9.6% 4.3%...

Ngày tải lên: 21/01/2014, 23:20

... Research 05 Januar y 2009 Imran Khan (1-212) 622- 6693 imran.t.khan@jpmorgan.com Our Estimates and Outlook for 2009 We forecast net revenue of US$529.7M in 2009, up 22% Y/Y, and GAAP diluted ... Change in Common Equity - net (1) 0 18 22 Payment of Cash Dividends - - - - Other Financing Charges, Net - - - (0) Net Cash from Financing Activities (1) (0) 18 22 Net Cha...

Ngày tải lên: 26/01/2014, 18:20