Earnings: Yahoo Disappoints For Q3But How Could It Do Anything Else?
This story was written by Staci D. Kramer.
It's hard to see how Yahoo (NSDQ: YHOO) could avoid disappointing given a stock price seriously below the amount offered for it by Microsoft (NSDQ: MSFT) earlier this year and the vast number of people with emphaticand differingopinions about what the company should do. In this environment, coming in even a percent ahead on revenue could be seen as a plus for some companies. Not so for a company but that's been asking for patience to right itself for a matter of years now. Yahoo brought in $1.786 billion in revenue, up one percent over the same quarter last year. Excluding traffic acquisition costs, revenue rose 3 percent to $1.35 billion over Q307. Net income was slightly higher than anticipated but it was $123 million, or 9 cents per share, compared with $153 million or 11 cents per share in Q307. On the plus side, it was on the plus side. That may be one reason shares are up nearly 6 percent after hours. More to come.
Earnings Release | Webcast (5 p.m. eastern) | Slides | Financial Trends
By Staci D. Kramer