New Street Research - Line Yahoo Corporation (TYO: 4689) LY Corp (Buy, TP: ¥585, +38%) Q2 FY24 Quick Take: Upgraded profitability guidance led by Media and PayPay

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New Street Research

Chris Hoare

EUR 9195.00 For Business Accounts Only

LY Corp (Buy, TP: ¥585, +38%) Q2 FY24 Quick Take: Upgraded profitability guidance led by Media and PayPay

Q2 numbers reflected improving profitability at PayPay and sustained growth in Media’s Account Ad revenue. Across the board, EBITDA margins were better YoY including Commerce.

05/11/2024 1 EN

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Chris Hoare

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LY Corp (Buy, TP: ¥585, +38%) Q2 FY24 Quick Take: Upgraded profitability guidance led by Media and PayPay

Japanese Telcos Q1 FY24 review: Softbank outperforming

LY Corp (Buy, TP: ¥585, +66%) Q1 FY24 Quick Take: Another EBITDA beat; ¥150bn share repurchase announced; great numbers from PayPay again

Match Group (MTCH, Buy, $54 target) Quick Thoughts Ahead of the Print

Bouygues Telecom Q3 24: Slightly slower SR y/y, better EBITDA y/y; La Poste Mobile deal is on

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