Yahoo! Beats the Street with Big Boost in Third Quarter Profit
Yahoo! released their third quarter earnings today and their profit is up, way up. Net income was $186 million, up a whopping 244% from the third quarter of 2008, when net income was $54 million. Much of this can be attributed to cost-cutting, as revenue was down year-over-year. Yahoo! brought in $1.6 billion in 3Q 2009, down 12% from 2008’s $1.8 billion. Still, revenue was up over the second quarter of 2009, a good sign for the Sunnyvale-based internet company.
“With revenue coming in above our guidance and flat sequentially, we had a solid third quarter that signals our major businesses have stabilized,” said Yahoo! chief executive officer Carol Bartz. “With new products like Yahoo! homepage, our brand revitalization campaign and expansion in the Middle East through Maktoob.com, our execution is improving and we’re focused on what we do best – being the center of people’s online lives.”
Analysts predicted Yahoo! would come in at $1.12 billion net revenue and 7 cents a share earnings. But Yahoo! beat those estimates, coming in at $1.13 net revenue and 13 cents a share earnings.
You can read the full earnings release here (PDF).
More about:
The Merkle B2B 2023 Superpowers Index outlines what drives competitive advantage within the business culture and subcultures that are critical to success. It is the indispensable guide for B2B marketers to deliver world-class experiences and keep pace with the dynamic environment. Download Now
The ClicData survey found that various challenges exist that prevent organizations from achieving such gains. These challenges included inaccessible data formats and limited flexibility in displaying data in dashboards. Download Now
The need for fraud prevention in the digital world is critical now more than ever. Why? Thinking about your own behavior, consider how you complete transactions and how this has changed over the last 5 years. Download Now
The need for fraud prevention in the digital world is critical now more than ever. Why? Thinking about your own behavior, consider how you complete transactions and how this has changed over the last 5 years. Download Now