Tài liệu Nothing But Net 2009 Internet Investment Guide 23 doc

... Net Income (Loss) - GAAP (9.4) (44.3) (11.4) (3.2) Net Income (Loss) - Pro forma 11.8 32.2 47.8 61.6 EPS - GAAP (w/FAS123R) $ (0.18) $ (0.62) $ (0.15) $ (0.04) EPS - Pro forma (ex-FAS123R) ... Januar y 2009 Imran Khan (1-212) 622-6693 imran.t.khan@jpmorgan.com Table 143: MercadoLibre Annual Cash Flow Statement $ in millions 2007 2008E 2009E 2010E Cash flows from operations...

Ngày tải lên: 21/01/2014, 23:20

... 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 ... 12/30 2008E 2009E 2010E '07/'08E '08/09E 09/10E 2008E 2009E 2010E 2008E 2009E 2010E 2008E 2009E 2010E '07/'08E '08/09E '09/10E 2008E 2009E 2010E 2008E 2009E 2010E...

Ngày tải lên: 15/12/2013, 10:15

... subset of mobile Internet users, usage drastically trails that on PCs. Nielsen Online reports that the PC Internet user visits more than 100 domains per month, whereas mobile Internet users visit ... We think mobile Internet adoption will not accelerate until the introduction of better phones and technologies. 3G networks perform up to 6x faster than prior mobile Internet netwo...

Ngày tải lên: 15/12/2013, 10:15

... media companies have also moved onto the Internet by offering TV episodes online and with Internet designed webisodes. However, monetization of Internet videos has trailed its growth. Various ... the publisher network will likely limit its scale, this premium network will offer a point of differentiation from competitive networks. Figure 18: DRIVEpm Ad Network DRIVEpm Network Top...

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

... (vs. 0.58%) in 2009. Internet ‘09E growth estimate cut to 33% from 53%. We cut our Internet market forecasts by 5% for ‘08, 18% for ‘09 and 23% for ‘10. We forecast 33% growth in 2009 and 30% ... products that they plan to buy. Table 69: Online Shoppers as a % of Internet Population Online shoppers as a % of Internet population Global 86% China 33% US 94% UK 97% Japan 97...

Ngày tải lên: 24/12/2013, 17:15

... Valuations for Korean Internet companies remained at a 20-30% discount to their global peers until 1H07, but the gap almost disappeared in late 2007 and early 2008 when Korean Internet share prices ... 40-80x for Daum. Figure 92: Korean Internet Sector Relative to KOSPI Performance -40% -30% -20% -10% 0% 10% Dec-07 Feb-08 Apr-08 Jun-08 Aug-08 Oct-08 Internet sector to KOSPI NHN...

Ngày tải lên: 21/01/2014, 23:20

... 762 1,170 956 967 999 1,225 1,011 1,048 1,132 1,459 Gross Margins 23. 8% 24.3% 23. 4% 20.6% 23. 1% 23. 8% 23. 4% 19.6% 22.0% 23. 3% 23. 0% 19.0% Fulfillment 253 248 285 467 343 345 378 506 379 382 ... PF Net Income 15% -12% 3% 95% -23% -5% 2% 23% -18% 4% 1% 28% Y/Y Change Revenue 32% 35% 41% 42% 37% 41% 31% 10% 11% 11% 15% 23% Fulfillment 33% 36% 36% 41% 36% 39% 33% 8% 1...

Ngày tải lên: 21/01/2014, 23:20

... Operating Margin (Pro forma) 25.1% 23. 9% 23. 2% 22.5% EBITDA 729.0 781.3 755.9 883.0 OIBA 669.5 708.4 677.9 739.7 OIBA Margin 25.1% 23. 9% 23. 2% 22.5% Net Interest Income (13.5) (35.5) (44.0) ... Other, Net (0.8) - - - Net Cash Provided by Investing Activities (790.0) 62.4 - - Effect of FX on Cash & Equivalents 21.5 (48.5) - - Net Increase in Cash & Equivalen...

Ngày tải lên: 21/01/2014, 23:20

... reconcile net income to net cash provided by (used in) operating activities: Depreciation and amortization 45 .23 50.8 52.3 53.9 Stock-based compensation 23. 9 23. 9 24.6 24.9 Equity in net loss of investments ... Interest income, net 30.9 13.7 10.8 12.1 Equity in net loss of investments (0.4) (0.4) 0.0 0.0 Gain on sale of equity investments 0.1 0.2 0.0 0.0 Impairment o...

Ngày tải lên: 26/01/2014, 18:20