America Movil posted another strong quarter. Service revenue grew 37% to a quarterly run rate of over $6 billion and EBITDA grew an even faster 50%. Consider that growth for a company than generates nearly 50% EBITDA margins and spends about 12% of revenue on cap-ex. CLICK HERE for a detailed table of Q3 results…
Ratatouille ended its US box office run 16% behind Cars ($204 mm vs. $244 mm), following a $47 mm opening weekend, compared to the $60 mm opening for Cars. However, the international performance of Ratatouille has enabled the film to surpass the global box office of Cars. Ratatouille’s global box office is already at $476…
This morning, China Unicom reported September net subscriber additions of 1.520 million, which topped our recently revised estimate by 94,000 driven mainly by better than expected net additions in the GSM business. China Unicom’s total subscriber base increased 13% to 156.0 million, equivalent to a market share of ~21% in China. The company’s net additions…
Viacom’s new website devoted to Jon Stewart’s The Daily Show (www.thedailyshow.com) is worth checking out and is likely to become a model for high-quality “traditional media” content on the web (another recent example is the destination website created for American Idol and the in-process destination being created for Southpark). It shows that Viacom is not…
The regulator in Colombia appears to indicate that subscriber growth in Colombia will be higher than expected for America Movil. The regulator reports subscriber data quarterly but in the fourth quarter last year changed the method by which it considers someone a customer. Therefore its figures do not exactly match what America Movil reports while…
We are somewhat surprised that Clearwire maintained the $60 per month fee for use of its PC Card for its initial launch because our checks in stores over the past few weeks indicated that this price might be too high to stimulate broad demand. Sprint offers a $50/month special rate plan for its EVDO-REV A…
This morning we increased our estimates on China Mobile. (Click here for the report) Our 2008 EBITDA estimate of $32 billion is $2 billion above consensus. We also increased our price target to $115 based on our new estimates and pushing our valuation out to 2009. Wireless subscriber growth is accelerating in China and China…
While we do not typically do quarterly previews, we thought it would be interesting to note our belief that VIVO could top both our subscriber and EBITDA estimates in Q3, which is typically a pretty bullish sign given that upside to subscriber growth typically has a negative impact on EBITDA. As we noted yesterday, preliminary…
As the odds of a successful Dolan “go-private” transaction wane (even if the shareholder vote is delayed), we believe CVC shares still offer compelling upside over the next 12-months, even if our current estimates are too high Stress-testing our CVC model (highlights in Exhibit A) illustrates the FCF growth potential of CVC: (based on rising…
Based on our calls to Clearwire stores we believe they are finally about to officially launch the PC card in its markets. We believe this will increase the potential market for Clearwire and could help stimulate sales that were below our estimates in Q2. We do not expect the company to reduce the monthly charge…
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