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Sell-side reaction to China Finance Online's earnings (JRJC 2Q05)

Ezra Marbach profile picture
Ezra Marbach

Youssef Squali, Internet and New Media analyst at Jefferies & Co. had the following to say about China Finance Online's (ticker: JRJC) Q2 2005 earnings results:

....We’re maintaining a HOLD rating on JRJC following the company’s announcement last night of soft results due to continued weakness in Chinese equities in 2Q05. Both subscriber growth and pricing were below expectations. With Chinese equities hovering around an 8-year low and lack of visibility into a turnaround, management’s ability to show sustained robust growth in this environment is limited. We’re revising our revenue and EPADS estimates for FY05 and FY06 to $7.3M and $0.20, and $7.42M and $0.21, respectively, down from $8.0M and $0.24, and $9.9M and $0.30, respectively. We carry a $6.10 fair market value.

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This article was written by

Ezra Marbach profile picture
Ezra Marbach is a former investment banker who lived in Beijing in 2002-03 where he studied Mandarin Chinese and worked for a venture capitalist. Ezra previously worked for Internet-based venture capital firm UniversityAngels.com. Prior to that, he worked in the corporate finance department of Gerard Klauer Mattison, a NY-based boutique investment bank. Ezra graduated from Cornell University.

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