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Table 17: Match estimate summary 1Q17 2Q17 2017 2018 Revenue BofA ML est. $293 $315 $1,285 $1,484 Growth Y/Y% 20% 20% 16% 15% Street $308 $322 $1,325 $1,484 BofA ML vs Street Below Below Below Above EBITDA BofA ML est. $79 $112 $462 $562 Street $f7 $113 $459 $544 BofA ML vs Street Above Below Above Above EPS BofA ML est. $0.14 $0.23 $0.95 $1.14 Street $0.13 $0.21 $0.88 $1.07 BofA ML vs Street In-Line In-Line Above Above Street EBITDA margins 25% 35% 35% 37% Source: BofA Merrill Lynch Global Research estimates, Bloomberg, as of 4/4/2017 opera Internet/e-Commerce | 06 April2017 927 HOUSE_OVERSIGHT_014913