Subject: 2025-Q2 Earnings
https://www.cnbc.com/2025/07/2...

            Q2                      TTM
Revenue   : $96.43  ($92.52)        $371B
EPS       : $2.31   ($2.06)         $9.39


Forward projections (next 4 quarters)

Revenue : $405B  x 6.1x Revenue = $205 / share
EPS     : $10.22 x 22x EPS      = $230 / share

The stock is at around $190-$195 as it bounces around after hours, I have a "full boat" of shares and won't be adding (or selling) at these prices. Note my model is projecting revenue growth to be just under 10%, but the past 8 quarters have all been well above that - so the above projections might be a bit conservative.

If they can get to $410B in TTM revenue and the multiple expands to 6.5x you would get a tighter range of $220 - $230 / share.

Some higlights
* YouTube continues to impress
* Capital expenditures are increasing (a concerning trend)
* Genimi has 450 monthly active users
* Operating expenses growing faster than revenue (+20%) (a concern)

tecmo
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