Suncor Energy, Inc. (NYSE:SU) 2024 Business Update Call May 21, 2024 9:30 AM ET Company Participants Troy Little - VP, IR Rich Kruger - President, CEO & Director Peter Zebedee - EVP, Oil Sands Dave Oldreive - EVP, Downstream Kris Smith - CFO Shelley Powell - SVP, Operational Improvement & Support Services Conference Call Participants Dennis Fong - CIBC Capital Markets Greg Pardy - RBC Capital Markets Neil Mehta - Goldman Sachs Roger Read - Wells Fargo Securities Menno Hulshof - TD Cowen John Royall - JPMorg ...

eBay Inc. (NASDAQ:EBAY) J.P. Morgan 52nd Annual Global Technology, Media and Communications Conference May 21, 2024 3:05 PM ET Company Participants Jamie Iannone - President, CEO Steve Priest - CFO Conference Call Participants Douglas Anmuth - JP Morgan Douglas Anmuth All right. We're going to go ahead and get started. I'm Doug Anmuth, JPMorgan's Internet analyst. We're very pleased to have with us today eBay President and CEO, Jamie Iannone; and CFO, Steve Priest. eBay is one of the world's largest and mos ...

Company and Industry Overview * **Company**: ServiceNow, Inc. (NYSE:NOW) * **Industry**: Workflow automation, platform services, enterprise software * **Key Products**: IT Service Management (ITSM), IT Operations Management (ITOM), IT Asset Management, Human Capital Management (HCM), Customer Service, Security Operations, etc. * **Market Position**: Leader in workflow automation and platform services, with a strong focus on innovation and customer success. Core Points and Arguments * **Outstanding Growth**: ServiceNow is the only company among those with over $10 billion in revenue to achieve 20%+ growth rate in 2024, significantly outpacing its peers. * **Platform Strategy**: ServiceNow's platform approach allows it to consolidate multiple point solutions and provide a single platform for various use cases across the enterprise. * **Innovation and Product Development**: ServiceNow maintains a rapid pace of innovation, releasing 2-5 new products annually through its Navex unit. This focus on innovation drives customer value and contributes to the company's growth. * **AI Integration**: ServiceNow is at the forefront of AI integration, leveraging domain-specific models and small models for efficient performance and cost-effectiveness. * **Pro Plus**: Pro Plus, ServiceNow's AI-powered offering, has seen rapid adoption and is expected to become a significant revenue driver in the coming years. * **System of Record vs. System of Engagement**: ServiceNow aims to be a system of record in areas like IT and security, while providing a system of engagement in other areas like HCM and ERP, integrating with existing solutions rather than replacing them. * **Market Penetration**: ServiceNow has a long runway for growth, with only 1/4 to 1/5 of its total addressable market currently penetrated. Other Important Points * **Customer Success**: ServiceNow prioritizes customer success and focuses on providing value through its platform and solutions. * **Global Expansion**: ServiceNow continues to expand its presence internationally, targeting specific markets and regions. * **Efficiency**: ServiceNow emphasizes efficiency in headcount growth, focusing on software engineers and quota-carrying sales reps. * **Flexibility**: ServiceNow offers flexibility in licensing models, providing options for unrestricted user counts and seat-based counts. * **Long-term Vision**: ServiceNow has a long-term vision for growth, with a focus on innovation, customer success, and market expansion.

Advanced Micro Devices, Inc. (NASDAQ:AMD) J.P. Morgan 52nd Annual Global Technology, Media and Communications Conference Call May 21, 2024 3:45 PM ET Company Participants Jean Hu - Executive Vice President & Chief Financial Officer Conference Call Participants Harlan Sur - JPMorgan Harlan Sur Okay. Good afternoon, and welcome to -- again, welcome to the second day of JPMorgan's 52nd Annual Technology, Media and Communications Conference. My name is Harlan Sur. I'm the semiconductor and semiconductor capital ...

Coinbase Global, Inc. (NASDAQ:COIN) JPMorgan Global Technology, Media and Communications Conference Call May 21, 2024 2:25 PM ET Company Participants Emilie Choi - President and Chief Operating Officer Alesia Haas - Chief Financial Officer Conference Call Participants Ken Worthington - JPMorgan Ken Worthington Hi, good afternoon, everybody. My name is Ken Worthington, I'm the analyst following Coinbase from JPMorgan. I'd like to thank you so much for joining the TMT Conference this year and the fireside cha ...

Fortinet, Inc. (NASDAQ:FTNT) J.P. Morgan Global Technology, Media and Communications Conference May 21, 2024 10:50 AM ET Company Participants Keith Jensen - CFO Ken Xie - Founder, Chairman, and CEO Conference Call Participants Brian Essex - J.P. Morgan Brian Essex Good afternoon, everyone. My name is Brian Essex. I'm J.P. Morgan security software analyst. And with me today are Ken Xie, Founder, Chairman, and CEO of Fortinet, and Keith Jensen, CFO. I've been cautioned before I start, I must turn things over ...

Etsy, Inc. (NASDAQ:ETSY) 52nd Annual J.P. Morgan Global Technology, Media and Communications Conference Call May 21, 2024 11:30 AM ET Company Participants Josh Silverman - Chief Executive Officer Conference Call Participants Katy Ansel - JPMorgan Katy Ansel All right. We're going to get started. I'm Katy Ansel, an Internet analyst at JPMorgan. We're pleased to have with us, Etsy CEO, Josh Silverman. Etsy operates two-sided online marketplaces that connect buyers and sellers around the world. etsy.com is the ...

Block, Inc. (NYSE:SQ) JPMorgan Global Technology, Media and Communications Conference Call May 21, 2024 12:25 PM ET Company Participants Jack Dorsey - Block Head, Square Head, Chairman, and Co-Founder Conference Call Participants Tien-Tsin Huang - JPMorgan Tien-Tsin Huang I think we can get started everyone, hope everyone is enjoying their lunch. My name is Tien-Tsin Huang. I'm the Payments and IT Services analyst here at JPMorgan. I'm super thankful and excited to get to host this guy again for a fireside ...

T-Mobile US, Inc. (NASDAQ:TMUS) J.P. Morgan Global Technology, Media and Communications Results Conference May 21, 2024 1:05 PM ET Company Participants Mike Sievert - President and Chief Executive Officer Conference Call Participants Sebastiano Petti - J.P. Morgan Sebastiano Petti Good afternoon, everybody. I'm Sebastiano Petti, and I cover the telecom cable and satellite space for JPMorgan. I want to welcome T-Mobile President and CEO since 2020, Mike Sievert. Mike, thanks for joining us today. Mike Siever ...

Industry/Company * **Company**: Sirius XM Holdings Inc. (NASDAQ: SIRI) * **Industry**: Cable, Satellite and Telecom Core Points and Arguments 1. **Growth Strategy**: Sirius XM is focusing on three key priorities for long-term growth: * Enhancing the consumer experience to drive future subscriber growth. * Capitalizing on opportunities in the ad business. * Driving efficiencies across the business to improve financial performance. [2] 2. **Enhancing Subscription Value**: * Investing in exclusive content, new brand platforms, and tech capabilities to attract new audiences. * Launching a new streaming platform and app with enhanced personalization, discovery, and control features. * Testing new pricing and packaging options for in-car business. [2] 3. **Ad Business**: * Leveraging a strong sales force, leading-edge technology, and audio talent to attract advertisers. * Investing in podcasting to enhance the ability to bring advertisers into the streaming and podcast network. [3] 4. **Efficiencies**: * Rationalizing the real estate portfolio and bringing marketing teams together for a better go-to-market strategy. * Investing in AI to enhance productivity and improve the customer experience. [4] 5. **Streaming Platform**: * Launched in December 2023, with a new price point of $9.99 to appeal to younger audiences. * Seeing positive leading indicators, including increased days listening and broader content access. [6][8] 6. **360L**: * 3 million self-pay customers and 12 million total 360L cars on the road. * Seeing better conversion rates, retention, and ARPU among 360L customers. * Expecting 360L to be in about 75% of new car trial starts within three years. [16][24] 7. **Podcasting**: * Investing in podcasting as a key area of incremental content investment. * Building a strong position in podcasting through talent relationships, distribution strategy, and technology. [33] 8. **Financials**: * Run rate cost savings of $45 million in 1Q '24, with a target of $200 million annually. * Focused on driving revenue growth and maintaining EBITDA margins. [34][36] 9. **AI**: * Implementing AI for productivity enhancements, cost efficiencies, and improved customer service. * Using AI for sales and marketing, customer service, and product recommendations. [38][40] 10. **Capital Expenditures (CapEx)**: * Peak CapEx in 2024, with satellite spend expected to drop significantly by 2028. * Non-satellite spend expected to remain elevated in 2025 before normalizing in 2026 and beyond. [42][43][44] 11. **Leverage**: * Targeting a leverage ratio of low to mid-3s in the back half of 2025. * Potential for share buybacks post deal if there is market dislocation. [45] 12. **Audible Deal**: * In process, with the first phase expected to be rolled out later this month or early June. [47] Other Important Points * Sirius XM is focused on improving the customer experience and providing more package choice. * The company is investing in technology and AI to enhance productivity and improve the customer experience. * Sirius XM is well-positioned for growth in the long term due to its strong content portfolio, distribution channels, and financial position.