Tuesday, October 12, 2004
Yahoo's Profit More Than Triples
Yahoo's quarterly report came out today after the close of trading, and it revealed that their profits more than tripled from the same period last year, rising from $65.3 million to $253.3 million, or 19 cents a share, on revenues of $907 million. $129.7 million of that came just from Overture, Yahoo's advertising service. $124 (or $191, depending on who you read) million came from the sale of Google shares. Yahoo also doubled its cash flow, according to CFO Susan Decker. Tough numbers for Google to beat next Thursday.
Yahoo shares saw little movement in trading the day before the release of the quarterly figures. The company has seen $476 million in profit so far this year. Sales were spurred by a 212% increase in revenues from it's core advertising business, showcasing the good quarter the entire search entire has been seeing. Yahoo's fee businesses, which include e-mail and personals, rose 31 percent, to $104 million, while its listing business, HotJobs, saw gains of 15% to $37 million.
Yahoo also raised its revenue estimates for the fourth quarter, expecting to generate $710-760 million, and $2.5-2.57 billion on the year. This was Yahoo's sixth consecutive quarter of record revenues, according to chairman and CEO Terry Semel.
Commenting so far as of 1855 EST:
- Search Engine Journal
- Search Engine Watch Blog
- The Gate
- Investor's Business Daily (evil subscription)
- WebProNews - lots of facts and figures
As of 2030 EST: