Reply to this post Facebook intends to kill the YouTube star. Facebook reported good results and highlighted that while 2017 would be much slower, video is the current priority to drive the next leg of growth. Q4 16A revenues / Adj-EPS were $8.81bn / $1.41 nicely ahead of consensus at $8.51bn / $1.31. Mobile was...
Reply to this post iPhone benefits where Google could not. Apple released excellent results highlighting that contrary to my previous view, iOS has been the main beneficiary of Samsung’s recent woes. FQ1 17A revenues / Adj-EPS were $78.4bn / $3.36 compared to consensus at $77.3bn / $3.22. iPhone was the main driver of the upside...
Reply to this post User indifference likely to drive further estimate cuts in 2017. Fitbit issued a horrible profit warning as users appear to be becoming bored with fitness tracking despite Fitbit’s efforts to drive engagement through the ecosystem. Q4 16A revenues / Adj.EPS will be $572m – $580m / LOSS$0.51 – LOSS$0.56 compared to...
Reply to this post G Suite and Chromebook upgrades are too little too late. Functionality upgrades to the mobile version of G Suite (Office-like apps) and enhancements the Chromebook proposition are not likely to alter the downward trajectory that I see for Google in the enterprise. Google has announced upgrades to the iOS and Android...
Reply to this post Cloud and mobile drive 3 for 3. Alphabet Q4 16. Alphabet reported excellent results driven once again by mobile advertising but was somewhat marred by a one-off tax payment. Q4 16A revenue-ex TAC / Adj-EPS was $21.2bn / $9.36 compared to consensus at $20.6bn / $9.63. If the one off tax...
Reply to this post This time around, Qualcomm should fight. I think Qualcomm will best serve its shareholders by fighting tooth and nail to halt the fall of royalty rates that has been going on for the last 9 years. The fight between Apple and Qualcomm is a sure indicator that life in the smartphone...
Reply to this post Gaming could save LINE but the focus appears to be elsewhere. LINE reported a difficult set of results which laid bare how difficult it will be to return to growth without expanding either its coverage of Digital Life or its user base. With the shares trading on 5.7x 2016A EV /...
Reply to this post Where Alibaba crosses swords with its peers, life is much tougher. Alibaba reported excellent FQ3 17 results as growth in the other areas of its business augmented the Chinese retail juggernaut. FQ3 16 revenues / Adj-EPS was RMB53.2bn (US$7.7bn) / RMB9.02 compared to consensus estimates of RMB50.1bn / RMB7.70. Alibaba also...
Reply to this post Snapchat looks more like Twitter than Facebook. Snapchat appears to be intending to focus on engagement metrics to justify its $20bn-$25bn valuation in the coming IPO. I see this as a sure sign that real metrics such as revenue and profit will fall far short of that which a regular company...
Richard is founder, owner of research company, Radio Free Mobile. He has 16 years of experience working in sell side equity research. During his 11 year tenure at Nomura Securities, he focused on the equity coverage of the Global Technology sector.
Snap Inc. – Pain not gain
Reply to this post I see only pain for investors paying $22.5 at the IPO. $20bn – $25bn is at least 32% too much to pay for investors who will also have no say whatsoever in how the company is run despite having significant skin in the game. Snap Inc. has published its S-1 document...