Peloton – Assessing the Balance Sheet
In this note we look at potential balance sheet issues for Peloton. We estimate Peloton used c650mn USD in cash in 1Q22...
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Amazon – Retail Struggles or a Blip in the Road?
Amazon’s latest set of results mark a potential unique inflection point for the behemoth. Amazon’s figures showed a surprising deceleration in...
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Tencent 2Q21 Results: Questions About Core Business Remain
We wrote a month ago that Tencent was likely to beat consensus estimates driven by ‘other gains’ (note here). Indeed, Tencent’s 2Q21 beat estimates...
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Sea Limited 2Q21 Results – Continuing to Drive New Growth Avenues
We wrote in May that consensus estimates for Sea were 15% too light (note). Indeed, Sea management yesterday upgraded its own guidance which could...
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Alibaba 1Q21/22 Results – Another EBIT Whiff yet We Might Get Upgrades.
Alibaba’s group EBIT fell by 11% YoY in 1Q21 yet we might get EPS upgrades. We have written extensively about the dislocation in forecasts which in...
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