Финансы и романсы

В последнее время все обсуждают спорные финансы Groupon, хотя в итоге все это давление привело к позитивным (с точки зрения будущих инвесторов) сдвигам – спорные правила бухгалтерии были пересмотрены, а в день начала продажи акций поднятые деньги уйдут компании, а не ее акционерам.

NYT сегодня: Zynga предложила собственную метрику оценки дохода:

Like Groupon, Zynga has also been caught up in using accounting metrics to show that high growth trumps low (or no) profits. In Zynga’s case, the company wants investors to focus on a Zynga-created metric that follows average daily users and average daily bookings (or revenue) per daily user. Not surprisingly, at the time of Zynga’s filing this figure was heading way up. Zynga had 62 million average daily users in the first quarter of 2011, compared with 24 million in the same quarter in 2009.

Анонимный участник фондового рынка (с шорт-позицией касательно NFLX): Netflix вполне может обанкротиться уже через год:

So to summarize, as of 6/30/11, Netflix had $175 million in cash. Most of its other assets consist of the streaming content library that has an expiration date. They’ve made $128 million in net income year to date, and have generated negative cash flow YTD (-$19 million). Yet Netflix owes $1.157 billion within a year. That is a huge shortfall, and those numbers should be alarming, even for a company that is still growing, which Netflix is not. It has lost at least a million customers so far in Q3 according to its own revised guidance. Plus, content costs are only going to keep increasing as the competition grows.