Internet/e-Commerce 1Q Internet Sector Preview Earnings Preview Equity | 06 April 2017 Unauthorized redistribution of this report is prohibited. This report is intended for [email protected] 1Q Preview; Expectations building on a strong 2H Our early sector preview highlights our estimates vs. Street, early 1Q data points, and some opportunities for 1Q results for 30 stocks in our coverage group (more detailed company previews to follow). For large-caps, Street 2017 EPS estimates are down 8%