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Saturday, October 04, 2008 1:55:44 PM
FULL NOTES:
*2007 was the best year in Bloomberg's history. We sold more than 30,000 terminals. We had 12 percent growth in unit terms and 16 percent revenue growth. We gained market share (but we don't know how much) and grew faster than the market and our competitors. Tradebook grew 18 percent by revenue to some $420 million. Data grew 47 percent. Order management grew 67 percent. Ad revenue grew 15 percent. In all, non-terminal business revenue grew 28 percent to about $825 million. We met or exceeded all targets for the year.
*2008. The target is 22,000 terminals. It was the best January in Bloomberg history. However, we tend to lag our customers' business by a couple of quarters and we're noticing more removals this month (Feb.) than the historical pattern. We're now in a cyclical downturn and the outlook is more difficult. Business will get tougher. The downturn will last through 2008 and probably the first six months of 2009.
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