{"id":268297,"date":"2010-02-02T13:51:00","date_gmt":"2010-02-02T18:51:00","guid":{"rendered":"http:\/\/www.businessinsider.com\/aol-revenues-will-be-down-for-the-16th-consecutive-quarter-2010-2"},"modified":"2010-02-02T13:51:00","modified_gmt":"2010-02-02T18:51:00","slug":"aol-revenues-will-be-down-for-the-16th-consecutive-quarter-aol","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/268297","title":{"rendered":"AOL Revenues Will Be Down For The 16th Consecutive Quarter (AOL)"},"content":{"rendered":"<p><a href=\"http:\/\/www.businessinsider.com\/aol\"><img loading=\"lazy\" decoding=\"async\" class=\"float_right\" src=\"http:\/\/static.businessinsider.com\/image\/4b4f6534000000000083d47c-359-268\/aol-ceo-tim-armstrong-with-traders-at-the-new-york-stock-exchange.jpg\" border=\"0\" alt=\"AOL CEO Tim Armstrong with traders at the New York Stock Exchange\" width=\"359\" height=\"268\" \/>AOL<\/a> (AOL) reports Q4 <a href=\"http:\/\/www.businessinsider.com\/earnings\">earnings<\/a> tomorrow; Citi analyst Mark Mahaney isn&#8217;t very excited.<\/p>\n<p>Mark&#8217;s reiterated a &#8220;hold&#8221; on AOL, with a $29 price target.<\/p>\n<p>He writes that AOL&#8217;s gross revenues will be down for the 16th consecutive quarter, &#8220;down 19% Y\/Y vs. down 23% Y\/Y in Q3 and down&nbsp; 23% in H1:09.&#8221;<\/p>\n<p>Mark broke out AOL&#8217;s pros and cons.<\/p>\n<p>Positives:<\/p>\n<ul>\n<li>Significant Internet Advertising secular growth opportunity; <\/li>\n<li>Focus on the $10B+ Local &lsquo;Net Ad opportunity is differentiated;<\/li>\n<li>AOL still remains a top 5 U.S. Internet property in terms of users; <\/li>\n<li>Solid balance sheet with $100MM in net cash &amp; generates $100MM in FCF per qtr; <\/li>\n<li>At approx 3.5X &rsquo;10 EV\/EBITDA, valuation is the lowest of any Mid\/Large Cap Internet Stock. <\/li>\n<\/ul>\n<p>Negatives:<\/p>\n<ul>\n<li>Clearly deteriorating fundamentals, with EBITDA&nbsp; down approximately 30% in &rsquo;09<\/li>\n<li>Broad and sig. market share losses &ndash; in terms <br \/>of basic Internet usage, Display Advertising revenue, and Search queries<\/li>\n<li>A significant profit hole from the structural decline of its Subscriber business<\/li>\n<li>Substantial competitive risk;<\/li>\n<li> An unproven (@ AOL) management team. We would pick YHOO as our Value Buy. <\/li>\n<\/ul>\n<p><a href=\"http:\/\/www.businessinsider.com\/aol-revenues-will-be-down-for-the-16th-consecutive-quarter-2010-2#comments\">Join the conversation about this story &#187;<\/a><\/p>\n<p><b>See Also:<\/b><\/p>\n<ul>\n<li><a href=\"http:\/\/www.businessinsider.com\/aol-is-hire-150-engineers-in-silicon-valley-2010-2\">AOL To Hire 150 Engineers In Silicon Valley<\/a><\/li>\n<li><a href=\"http:\/\/www.businessinsider.com\/at-last-2010-1\">AT LAST!<\/a><\/li>\n<li><a href=\"http:\/\/www.businessinsider.com\/aol-asks-for-2000-50-assignments-on-sxsw-2010-1\">AOL Asks For 2,000 $50 Assignments On SXSW<\/a><\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/feeds.feedburner.com\/~r\/TheMoneyGame\/~4\/yNOusTusPlg\" height=\"1\" width=\"1\"\/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>AOL (AOL) reports Q4 earnings tomorrow; Citi analyst Mark Mahaney isn&#8217;t very excited. Mark&#8217;s reiterated a &#8220;hold&#8221; on AOL, with a $29 price target. He writes that AOL&#8217;s gross revenues will be down for the 16th consecutive quarter, &#8220;down 19% Y\/Y vs. down 23% Y\/Y in Q3 and down&nbsp; 23% in H1:09.&#8221; Mark broke out [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-268297","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/268297","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=268297"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/268297\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=268297"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=268297"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=268297"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}