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Garnry: Facebook a top pick at tipping point
Facebook is seen by Peter Garnry, Saxo Bank’s Head of Equity Strategy, as a top pick at a tipping point. The main reason being that it now has a business model which requires minimal capital investment and, to a large extent, overheads. The firm simply has to try to maintain its user growth. In Q1 the firm reported 1.28 billion monthly active users, up 15% year on year and 802 million daily active users, up 21% year on year. Q1 operating margin was 43%, up from 26% in the first quarter of 2013. Peter says this is a "hugely profitable company which requires little R and D investment to maintain revenue, it's phenomenal".
02:49 minutes
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