Table 1: Key 1Q metrics for Large Cap Internet (>$5bn Market Cap) Alphabet GOOGL Website revenue (ex-FX) growth vs 22.3% in 4Q 21.6% Amazon AMZN AWS revenue growth vs. 47% in 4Q 43% yly eBay EBAY US GMV growth trends 3.5% yly Expedia EXPE Room night growth vs. 15% in 4Q 16% Facebook FB Ad revenue growth (ex-FX) vs. 54% reported in 4Q 52% Netflix NFLX 1Q Intl sub guidance 3.9mn Priceline PCLN 1Q room night growth vs. 31% in $Q 26% yly Snap SNAP Global DAU's vs. 158mn in 4Q 166mn TripAdvisor TRIP Update on ad spend targets, 2017 guidance 18% S&M yiy growth Twitter TWTR MAUs and y/y trend vs 319mn (+4% y/y) in 4Q 322mn MAUs (+4% y/y) ahoo YHOO Any update on acquisition timing and ongoing breach investigations N/A Zillow ZG Mortgage Revenue $18.1mn Source: BofA Merrill Lynch Global Research estimates Table 2: Key 1Q metrics for Small Cap Internet (<$5bn Market Cap) BankRate RATE 1Q revenue $117mn Quotient QUOT 1Q transactions 731mn Care.com CRCM US paying families 266,607 (4% y/y) Fitbit FIT 1Q unit sales and gross margin 3mn/39% (GoPro GPRO 1Q unit sales and gross margin 800K/35% GrubHub GRUB Gross food sales growth 26% Match.com MTCH Paid Member Growth 17% (OnDeck Capital ONDK 1Q origination growth and marketplace take rate 12% 13% Pandora P Ad revenue per listening hour growth 10% LendingTree TREE Variable marketing margin growth 29% yly Trivago TRVG Qualified referral growth 56% yly Wayfair W 2Q revenue growth guidance 25% yly Wix WIX Premium subscribers growth 36% elp YELP 1Q Local advertising account adds 4k (17% yy) Zynga ZNGA Online Games DAUs 17.9 Source: BofA Merrill Lynch Global Research estimates 2 Internet/e-Commerce | 06 April 2017 i rooriuliall HOUSE_OVERSIGHT_014888