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Monster's Guidance is Not Guidance |
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| Mar 19, 2008 03:27 PM UTC |
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Tracked Blogger
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3/19 - "Monster Worldwide (MNST), which suddenly saw the light at the end of last year and decided it would no longer issue guidance, "corrected" analysts yesterday on what number they should plug into their models for Q1 operating expenses. This "correction" should have the result of reducing the non-GAPP EPS by about half of what analysts currently projected for the quarter." "The important takeaway from this announcement is that we are finally starting to see the consequences of heavy investment in a business with declining growth...Expect this to be the first of many "corrections" to come." 
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4 Related Views
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Monster: We're Blowing Out Our Expenses. But Don't Worry!
3/19 - "Monster.com, the online job site that's in perpetual turnaround, halted trading late today. Why? It needed to put out a note announcing that Q1 operating expenses "appear to exceed the current analysts’ consensus expense levels".
By how much? We don't know. But the range that Monster (MNST) offered -- $327 million to $333 million -- is roughly equal to the company's last two quarters...
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N/A risk: moderate |
Loweing Estimates on Monster Following Warning
3/19 - "The higher operating expenses can be attributed to larger global marketing spend in global branding initiatives and higher compensation-related costs due to normal seasonality in the quarter...Monster expects its operating expenses to return to normal in the following quarters."
"Monster didn’t give 2008 revenue or EPS guidance as the company believes that it needs to focus on longer...
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N/A risk: moderate |
Monster: Higher Expenses + Weak Domestic Revenues = Uncertainty
3/19 - "While we had anticipated a skew in the quarterly pattern of marketing costs in 2008, the magnitude of the 1Q expenditures appears to be at least 30% higher than we had modeled...Somewhat troubling to us is that while traffic has improved ytd through February (unique visitors to Monster.com up 12.2% yoy), the increase does not seem proportional to an estimated 70% increase in marketing...
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Monster Worldwide Comments on Expectatitons for Q1 2008 Operating Expenses
3/18 - "Monster Worldwide, Inc. (NASDAQ:MNST - News) said today that it expects total non-GAAP operating expenses for the first quarter ended March 31, 2008, to be in the range of $327 million to $333 million. The Company’s first quarter 2008 projected non-GAAP operating expenses, while consistent with its internal financial plan, appear to exceed the current analysts’ consensus expense levels."
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