Technology Outperformance

Sebastian Götz

Performance

  • +252,6 %
    seit 06.08.2013
  • +21,2 %
    1 Jahr
    -0,22 %
    Heute
    -9,0 %
    Max Verlust (bisher)
    0,5x
    Risiko-Faktor
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Handelsidee

Ziel:

Das Portfolio soll aus Technologiewerten bestehen, die mit überdurchschnittlichen Wachstum den Gesamtmarkt outperformen.

Anlageuniversum:

Gehandelt werden sollen alle Technologieaktien.


Entscheidungsfindung:

Zur Entscheidungsfindung verwende ich meist die Technische Analyse, die Fundamentale Analyse, die Sentimentanalyse sowie auch aktuelle finanzpolitische- und wirtschaftliche Nachrichtendienste.


Strategie:

Es werden wenn möglich Positionen in jeder Marklage gehalten bei einem langfristigen Zeithorizont.

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Stammdaten
Symbol
WFPERFORMG
Erstellungsdatum
06.08.2013
Indexstand
High Watermark
362,7

Regeln

Auszeichnungen

Anlageuniversum

Trader

Sebastian Götz
Mitglied seit 30.05.2013

Entscheidungsfindung

  • Technische Analyse
  • Fundamentale Analyse

Kommentare im wikifolio

Allgemeiner Kommentar

iQIYI Announces Second Quarter 2019 Financial Results

BEIJING, Aug. 19, 2019 (GLOBE NEWSWIRE) -- iQIYI, Inc. (NASDAQ: IQ) ("iQIYI" or the "Company"), an innovative market-leading online entertainment service in China, today announced its unaudited financial results for the second quarter ended June 30, 2019.

Second Quarter 2019 Highlights

  • Total revenues were RMB7.1 billion (US$1.0 billion1), representing a 15% increase from the same period in 2018.
  • Operating loss was RMB1.9 billion (US$272.6 million) and operating loss margin was 26%, compared to operating loss of RMB1.3 billion and operating loss margin of 22% in the same period in 2018.
  • Net loss attributable to iQIYI was RMB2.3 billion (US$339.0 million), compared to net loss attributable to iQIYI of RMB2.1 billion in the same period in 2018. Diluted net loss attributable to iQIYI per ADS was RMB3.22(US$0.49).
  • The number of total subscribing members was 100.5 million as of June 30, 2019, 98.9% of whom were paying subscribing members. This compares to 67.1 million of total subscribing members as of June 30, 2018, up 50% year over year.

“We are pleased to report another solid quarter of performance highlighted by our total subscribing members surpassing 100 million, marking a historic milestone for the Company,” commented Dr. Yu Gong, Founder, Director and Chief Executive Officer of iQIYI. “We further solidified our market leadership position across various operating metrics, and strengthened our product matrix that generates strong synergies across our platform. We remain committed to our strategy of enhancing production capabilities of high quality original content and advancing our AI technology innovation in content production, distribution and monetization. With the fast development of China’s entertainment industry and the approaching 5G commercialization, we are confident in our growth prospects and look forward to capturing the enormous opportunities ahead to grow in tandem with our users, partners, and investors.

“We achieved continued revenue growth in the second quarter despite some recent challenges facing our industry,” commented Mr. Xiaodong Wang, Chief Financial Officer of iQIYI. “Our membership business generated solid growth with subscription revenues increasing 38% year-over-year, driven by our strong content slate during the quarter. As our IP-centered diversification strategy grows to scale, we are constantly expanding the scope of our value-added services and pursuing better monetization. We believe our long-term growth landscape remains intact, and we will continue to invest in our original content and technology which serve as the dual engines to drive our future growth.”

Footnote:
[1] This announcement contains translations of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB6.8650 to US$1.00, the effective noon buying rate as of June 28, 2019, in The City of New York for cable transfers of RMB as certified for customs purposes by the Federal Reserve Bank of New York.

Second Quarter 2019 Financial Results

Total revenues reached RMB7.1 billion (US$1.0 billion), representing a 15% increase from the same period in 2018.

Membership services revenue was RMB3.4 billion (US$497.1 million), representing a 38% increase from the same period in 2018. The increase resulted from the solid growth in the number of subscribing members, driven by our premium content, especially our original hits, as well as various operational initiatives during the quarter.

Online advertising services revenue was RMB2.2 billion (US$320.6 million), down 16% year over year, mainly due to the challenging macroeconomic environment in China, the delay of certain content launches and slower-than-expected recovery of our in-feed advertising.

Content distribution revenue was RMB517.9 million (US$75.4 million), representing a 4% decrease from the same period in 2018 due to the delay of certain content launches during the quarter.

Other revenues were RMB979.2 million (US$142.6 million), representing an 82% increase from the same period in 2018. The increase was driven by strong performance across various vertical business lines, especially the robust growth of our game business after the acquisition of Skymoons.

Cost of revenues was RMB7.0 billion (US$1.0 billion), representing a 14% increase from the same period in 2018. The increase was primarily driven by higher content costs as well as other cost items. Content costs as a component of cost of revenues were RMB5.0 billion (US$731.9 million), representing a 7% increase from the same period in 2018.

Selling, general and administrative expenses were RMB1.3 billion (US$196.1 million), representing a 42% increase from the same period in 2018. This was primarily due to higher marketing spending on game business and increased share-based compensation expenses associated with the acquisition of Skymoons.

Research and development expenses were RMB654.6 million (US$95.4 million), representing a 48% increase from the same period in 2018, primarily due to the increase of personnel-related compensation expenses.

Operating loss was RMB1.9 billion (US$272.6 million), compared to operating loss of RMB1.3 billion in the same period in 2018. Operating loss margin was 26%, compared to operating loss margin of 22% in the same period in 2018.

Total other expense was RMB426.7 million (US$62.2 million), compared to total other expense of RMB768.3 million during the same period of 2018. The year-over-year variance was a combined result of less foreign exchange loss due to the fluctuation of exchange rate between Renminbi and the U.S. dollar, and increased interest expenses associated with our financing activities.

Loss before income taxes was RMB2.3 billion (US$334.8 million), compared to loss before income taxes of RMB2.1 billion in the same period in 2018.

Income tax expense was RMB5.8 million (US$0.8 million), compared to income tax expense of RMB4.9 million in the same period in 2018.

Net loss attributable to iQIYI was RMB2.3 billion (US$339.0 million), compared to net loss attributable to iQIYI of RMB2.1 billion in the same period in 2018. Diluted net loss attributable to iQIYI per ADS was RMB3.22(US$0.49) for the second quarter of 2019.

As of June 30, 2019, the Company had cash, cash equivalents, restricted cash and short-term investments of RMB16.4 billion(US$2.4 billion).

Financial Guidance

For the third quarter of 2019, iQIYI expects total net revenues to be between RMB7.21 billion (US$1.03 billion2) and RMB7.63 billion (US$1.09 billion), representing a 4% to 10% increase from the same period in 2018. This forecast reflects iQIYI's current and preliminary view, which is subject to substantial uncertainty.

Footnote:
[2] The translations from RMB to U.S. dollars for the expected revenues in the third quarter of 2019 are made at a rate of RMB7.0 to US$1.0, the rounded noon buying rate as of August 8, 2019, in The City of New York for cable transfers of RMB as certified for customs purposes by the Federal Reserve Bank of New York. We make no representation that any Renminbi or U.S. dollar amounts could have been, or could be, converted into U.S. dollars or Renminbi, as the case may be, at this rate, or any particular rate, or at all.

Conference Call Information

iQIYI's management will hold an earnings conference call at 8:00 PM on August 19, 2019, U.S. Eastern Time (8:00 AM on August 20, 2019, Beijing Time). Dial-in details for the earnings conference call are as follows:

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Allgemeiner Kommentar

iQIYI, Inc. (NASDAQ: IQ) (“iQIYI” or the “Company”) is an innovative market-leading online entertainment service in China.

IQ Earnings Date

Earnings announcement* for IQ: Aug 19, 2019

iQIYI, Inc. is expected* to report earnings on 08/19/2019 after market close. The report will be for the fiscal Quarter ending Jun 2019. 

Preearnings reaction +9,5%

We are at the forefront of the entertainment industry in China. Our corporate DNA combines creative talent with technology, fostering an environment for the continuous innovation and production of blockbuster content. Our platform features highly popular original content, as well as a comprehensive selection of professionally-produced and partner-generated content. Through our curated premium content, we attract a massive user base with tremendous user engagement, and generate significant monetization opportunities.

We are one of the largest internet companies in China in terms of user base. We have successfully built iQIYI into a widely-recognized brand among users, content partners and advertisers, and have redefined online entertainment in China. We are the largest internet video streaming service in China in terms of user time spent and average total MAUs in 2017, according to iResearch. Through our license partner, we also operate the largest smart TV video streaming service in China as measured by monthly active devices in December 2017, according to the iResearch Report. We have also built a leading entertainment-based social media platform, iQIYI Paopao, for fans to follow and interact with celebrities and the entertainment community.

We pride ourselves in establishing a track record of producing blockbuster original content. In 2017, our original content accounted for 5 of the top 10 original internet variety shows and 6 of the top 10 original internet drama series in China based on each title’s peak monthly active users according to the iResearch Report. The Lost Tomb (盗墓笔记), one of the first high-budget original internet drama series in China that we released in 2015, generated more than 100 million video views within the first 24 hours of debut and over 4 billion video views in total. We also pioneered and produced a number of internet variety shows that are highly popular, such as Qipa Talk (奇葩说), released in 2014 and currently in its fourth season, and The Rap of China (中国有嘻哈), each of which has generated over 3.0 billion video views. Leveraging on our initial success, we have extended selected popular titles into multi-season format.

Our powerful content distribution capability makes us the go-to partner in China for premium content providers. Equipped with our deep-learning predictive algorithms and massive user data, we have developed industry-leading tools to select third-party content. During 2017, iQIYI featured 42 of the top 50 most popular drama series, variety show and film titles streamed on the internet in China based on each title’s peak monthly active users, according to the iResearch Report. We have also built a comprehensive content library catering to the diverse tastes of our users, and cultivated emerging content providers. Our growing network of iQIYI partner accounts provides us with high-quality partner-generated content. This network also enables thousands of content providers to distribute content effectively and monetize their followings through revenue sharing arrangements with us.

We distinguish ourselves in the online entertainment industry by our leading technology platform powered by advanced AI, big data analytics and other core proprietary technologies. Our core proprietary technologies are critical to producing content that caters to user tastes, delivering superior entertainment experience to our users, improving operational efficiency, and increasing return on investment for our advertisers and monetization opportunities for content providers.

We have developed a diversified monetization model to capture multiple opportunities arising from the rapid growth of the online entertainment industry in China. We generate revenues through membership services, online advertising services, and a suite of IP-related monetization methods, including content distribution. We pioneered a large scale paid content subscription business in China. We appeal to advertisers through broad and efficient user reach, as well as innovative and effective advertising products. We have proven capabilities of adapting a single popular work into a variety of entertainment products, creating multiple channels to amplify the popularity and monetary value of the original work. Our sophisticated monetization model fosters an environment for high-quality content production and distribution on our platform, which in turn expands our user base and increases user engagement, creating a virtuous cycle.

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Allgemeiner Kommentar

Alibaba shares pop after earnings beat thanks to e-commerce, cloud as analysts see a big rally ahead

 

KEY POINTS

  • Alibaba reported results for the June quarter that beat on both revenue and earnings.
  • The company’s core commerce and cloud computing businesses boosted results.
  • Analysts are broadly positive on Alibaba’s stock with many expecting a rally over the next 12 months.

 

A monitor displays Alibaba Group signage on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Monday, Jan. 7, 2019.

Michael Nagle | Bloomberg | Getty Images

Alibaba shares rallied in premarket after the company posted better-than-expected revenue and earnings for its June quarter, though sales growth slowed.

Here’s what the Alibaba’s reported:

  • Revenue of 114.92 billion ($16.74 billion), according to the exchange rate in the earnings release. That was an increase of 42% year-over-year and better than the 111.73 billion yuan expected, according to Refinitiv data. That was slower than the more than 61% year-on-year revenue growth seen in the same period last year however.
  • Non-GAAP diluted earnings per share (EPS) of 12.55 yuan versus 10.25 yuan expected, according to Refinitiv estimates.

Shares were up over 3% in pre-market trade.

The growth was driven by the company’s core commerce business, which includes its Tmall and Taobao shopping platforms, as well as its booming cloud division.

Core commerce, which accounts for the majority of revenue, rose 44% year-on-year in the June quarter. This was helped not only by Tmall, but also by its food delivery business Ele.me, which saw 137% revenue growth year-on-year.

Annual active consumers on Alibaba’s China retail marketplaces reached 674 million, an increase of 20 million from the 12-month period ended March 31, 2019. The company said that over 70% of those new consumers were from less-developed cities, highlighting its push into lower tier Chinese cities.

 

The earnings report was closely watched by Wall Street given the ongoing U.S.-China trade war.

“China e-commerce players have come under major pressure in light of worries around growth in the region and macro slowness. We believe ... the bark is worse than bite at this point although this remains a major (‘prove me’) quarter for BABA,” Daniel Ives, managing director of equity research at Wedbush Securities, told CNBC ahead of the report.

“Geopolitical uncertainties have placed additional pressure on global growth ... this is both a challenge and opportunity for the Chinese economy ... consumption and the service sector will become the new engine for … growth,” Daniel Zhang, CEO of Alibaba said on the earnings call, adding that the company is “well-positioned” to take advantage of this trend.

Cloud

One of the most promising areas of Alibaba’s business, according to analysts, is cloud computing. Cloud computing revenue grew 66% year-over-year to 7.79 billion yuan.

“Cloud remains the key asset we believe the Street is focused on. Given the penetration of cloud in China, BABA has a major green field opportunity over the coming years on this front,”

Alibaba is the largest cloud computing player in China by market share but is facing increasing competition from large rivals like Tencent.

IPO delayed?

Alibaba’s shares are up nearly 20% this year, but Wall Street thinks they can go higher over the next year. The average price target on the stock is $218.09, according to Reuters data. That implies a 34.5% upside from Wednesday’s close.

The Chinese e-commerce giant is also reportedly looking to hold an initial public offering in Hong Kong, which could raise as much as $20 billion. On Thursday, however, the New York Post reported that Alibaba was weighing whether to delay the listing, which was scheduled for September, amid the anti-China protests in Hong Kong. Alibaba declined to comment when contacted by CNBC about the matter.

Despite some of the near-term headwinds, such as the trade war, Alibaba’s various investments should set it up for growth over the next few years, according to Thomas Chong, equity analyst at Jefferies.

“Alibaba has multiple growth drivers in the years ahead, in our view, with the core marketplace a strong cash cow enjoying secular momentum amid China’s ongoing consumption upgrade, thanks to solid execution and technological ability to digitalize the retail sector, thereby enhancing efficiency,” Chong wrote in a recent note.

“Its highly synergistic ecosystem enables it to ramp up easily in lower tier cities and local services. It has clear market leadership in cloud computing, which is the backbone of digitalization across different industries.”

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