Epstein Secrets

manent Representative of Ukraine to the United Nations. Geneva Cesare Mainardi Senior Vice-President and Managing Booz & Company USA Director. North America Samer A. Majali Chief Executive Officer Gulf Air Company Bahrain Tumi Makgabo Executive Director AfricaWorldwide Media South Africa P. Mpho

ident and Chief Executive Officer Chairman of the Supervisory Board Chairman and Chief Executive Officer Partner Chief Economist and Group Head, Global Research Editor-in-Chief Executive Director President, Southern Africa Chief Executive Officer General Manager, Office of the Chief Executive Chief Exe

from price actions (Table 1). GM Financial EBIT of =193mm was just below our $218mm forecast. We continue to expect GM's =uto results to be led by North America in the next few quarters, driven =y solid volumes, product launches, and the company's go-to-market =trategy, while macro volatility in Europe (i.e.

[email protected]> Reply-To: =/b>"Ens, Amanda" <[email protected]> EFTA_R1_01328859 EFTA02350939 Rich, as an update in case =ou still hold Global Research General Motors Company GM produces solid 4Q16, taxes drive beat, =onstructive outlook maintained — first take Maintain Rating: NEUTRAL PO: 42.00 US

= -1.2% = 5.0% = -3.1% ~=— 6.0% ~=—-0.9% 8.9% -14% 29% 4.2% 3.0% 0.4% —-1.0% 3.3% -2.4% 3.6% Source: Smith Travel Research (STR), BofA Merrill Lynch Global Research estimates; Note: **March data is month to date Estimates vs. Consensus: In-line 1Q revenue and EPS We expect 1Q revenue/EPS of $2.13bn/S0.07 vs. the

competitive saga), technical challenges with Android (from Memories), and seasonality entering the summer. We model ARPU at $1.01 (down 5% q/q), with North America ARPU at $2.03 (down 7% q/q). We won't be surprised to see upside in ARPU driven by ad load growth and higher user engagement, though competitive pric