We think the $9.5 billion number implies a net revenue number of about $6.5 billion, which is roughly in line with current consensus estimates. |
We think they succeeded in two key objectives. One, setting a very positive tone that almost immediately reversed the negative post-fourth-quarter sentiment. Second, quite forcefully correcting and dispelling concerns over George Reyes' comments on growth and monetization from earlier in the week. |
While there have been headline-grabbing absolute moves over the past few weeks, the stock is only giving back gains from the start of the year. |