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  • Are You Worth Less Than 50 Cents To Netflix?
    Fri, Aug. 1 AMZN, GOOGL, GOOG 11 Comments

    Summary

    • Netflix announced quarterly earnings and offered visibility into its per customer revenue contribution.
    • A look at the value of the customer shows why the stock held onto its recent 40% gain.
    • The bulk of the price increase will go towards content creation building an asset rather than increasing margins.
  • Why HomeAway Gapped Up
    Fri, Jul. 25 AWAY 3 Comments

    Summary

    • HomeAway beat revenue estimates and guided up, as expected.
    • Performance listings drove the upside.
    • Its unclear if this is a step-up or inflection point.
  • What Caused Facebook's Profit Explosion?
    Thu, Jul. 24 FB 23 Comments

    Summary

    • Facebook's profits blew away analyst estimates.
    • The driving forces were a combination of things, not just mobile ad revenue.
    • North America is spending much more than the ROW implying more upside.
  • Why Netflix Will Continue To Climb After Just Meeting Estimates
    Tue, Jul. 22 NFLX 7 Comments

    Summary

    • Netflix just met estimates but the stock is likely to continue climbing.
    • Drivers are international growth, decline of DVD business and cost management.
    • Margin expansion has room to run but will not continue for ever.
  • Why This Could Be HomeAway's Breakout Quarter
    Mon, Jul. 21 AWAY 2 Comments

    Summary

    • HomeAway is transitioning to a hybrid subscription model that could increase its potential market.
    • Initial results in 1Q14 were stronger than expected.
    • Rollout to Europe may increase growth rate further.
  • Why We Should Have Seen The NQ Mobile Inc. Disaster Coming
    Fri, Jul. 18 NQ 68 Comments

    Summary

    • NQ fired its highly regarded auditor, PwC after it requested more information to sign off on its financials.
    • There was a key indication that PwC was becoming concerned about the potential for misstatements.
    • A side by side comparison of the two auditor reports makes the comparison easy.
  • Why Apple's E-Book Payout Is A Catalyst For Investors
    Thu, Jul. 17 IBM, AAPL 35 Comments

    Summary

    • The $400 million settlement with NY AG Schneiderman took 2% out of Apple shares.
    • It was timed with Apple's massive announcement that IBM would be developing software and selling Apple hardware.
    • Long-term investors who look at earnings power should see this as a catalyst to buy not sell.
  • 3 Bright Spots From Yahoo's Quarter
    Wed, Jul. 16 YHOO 21 Comments

    Summary

    • Display and Search revenue was weak, but there were a few bright spots.
    • Yahoo's investment in premium content is commanding a higher PPC.
    • Yahoo seems willing to reduce share count with some of the Alibaba IPO proceeds.
  • What To Look For In BlackBerry's Make Or Break Quarter
    Wed, Jun. 11 BBRY 50 Comments

    Summary

    • What are the tangible signs of revenue growth?
    • Customer switching costs make BlackBerry very different from Sybase.
    • This is a make or break quarter for BlackBerry; it needs to show revenue can rebound.
  • Auditors Didn't Find Fraud At NQ Mobile, But A Restatement Isn't Ruled Out
    Fri, Jun. 6 NQ 116 Comments

    Summary

    • NQ issued a press release stating no fraud was found by an independent audit team.
    • The scope of the investigation does not explicitly state that revenue recognition was addressed.
    • There is still risk to the story, and possibly a restatement.