Yahoo posts drop in profit, hurt by display ads
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Internet media company Yahoo Inc.   on Tuesday reported a dip in quarterly profit in line  with previously lowered expectations, weighed down by weak  brand advertising and recent management turmoil.
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Yahoo Inc.'s month-old upgrade to its advertising formula for making money from online search requests so far has done more to lift the Internet powerhouse's morale than its finances, the company's two top executives said Tuesday.
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After a challenging year, Yahoo posted a 23 percent decline in fourth-quarter profits and announced plans to cut 1,000 positions.
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Yahoo Inc.  said on Tuesday  the company expects third-quarter revenues to be at the bottom  half of its forecast range due to weakness from its two biggest  advertising segments, sending its shares down as much as 13  percent.
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Yahoo&#39;s fourth-quarter revenue grew, but net income fell as the struggling Internet giant tried to put its house in order and improve its ability to compete against Google and other rivals.Revenue for the period, ended Dec. 31, came in at $1.832 billion, up 8 percent compared with 2006&#39;s fourth quarter, the company said Tuesday. Subtracting the commission that Yahoo pays to sites in its advertising network, revenue was $1.403 billion, up 14 percent but missing the $1.406 billion consensus expectation from financial analysts polled by Thomson Financial.Meanwhile, net income fell to $206 million, or $0.15 per share, from $269 million, or $0.19 per share. On a pro forma basis, which includes one-time items, net income was $280 million, or $0.20 per share, down from $297 million, or $0.21 per share. Analysts expected Yahoo to post earnings per share of $0.11.Yahoo&#39;s statement doesn&#39;t mention staff reductions, which the company is rumored to be mulling. The company will most likely field questions about layoffs in its earnings-release conference call Tuesday afternoon.
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Search engine Yahoo says it plans to cut 1,000 jobs as its profits fall 23% in the final three months of 2007.
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Yahoo&#39;s fourth-quarter revenue grew, but net income fell as the struggling Internet giant tried to put its house in order and improve its ability to compete against Google and other rivals.
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SAN FRANCISCO -- Yahoo Inc. warned yesterday that slowing ad growth will depress its third-quarter results, marking the Internet powerhouse's latest letdown.
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(InfoWorld) - A slowing U.S. economy may already be impacting Yahoo's Web advertising sales growth, the head of the company said Tuesday, a trend that does not bode well for other ad-supported Internet sites. "We're seeing some slowing in perhaps two of the largest sectors, both autos and financial services," said Terry Semel, chairman and chief executive officer of Yahoo, in response to questions at a Goldman Sachs conference. Advertising sales from both sectors have slowed down during the past three to four weeks, although both remain on a growth track. "They're growing, but they're not growing as quickly as we would have hoped at this moment in time," said Semel. The comments sparked a sell-off in Yahoo shares, which plunged 11.2 percent, or $3.25, to close at $25.75 each during normal trading hours. Other Internet stocks suffered from the comments, with Google shares falling 2.6 percent to $403.81, and eBay stock ending 3.3 percent lower to finish the day at $25.95. Yahoo loweredÂ its third quarter outlook to the lower end of its guidance. The company had forecast revenue, excluding commissions, to be in the range of $1.12 billion to $1.23 billion this quarter. A slowdown in advertising growth on the Internet could hurt the development of new Web sites in the near term, since so much content depends on advertising sales to support operations. But Yahoo was careful to note that it cannot tell whether the current slowdown is a sign of broader trouble or is limited to ads from the auto and financial sectors. The company also noted that while the weakness in advertising showed up in some of the most economically sensitive categories, it's not necessarily a sign of a slowing U.S. economy. "It's too early to tell if this is a sign of anything broader," said Susan Decker, head of finance at Yahoo, who attended the conference with Semel. An audio Web cast of comments by the two Yahoo executives can beÂ accessed here.
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Plus: Yahoo profit falls ... Toshiba earnings dip, chip outlook dims...Verizon boosted by wireless, fiber.
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Stocks fell on Tuesday, as Internet   stocks dropped after Yahoo Inc. YHOO.O warned about its   quarterly outlook, and the Thai army seized power in the   country's first coup in 15 years, rattling international   financial markets.
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SAN FRANCISCO - Internet giant Yahoo Inc.'s third-quarter profit nearly quadrupled, reflecting a continued boom in online advertising.    The Sunnyvale-based company said Tuesday that it earned $253.3 million, or 17 cents per share, for the three months ended in September, up from net income of $65.3 million, or 5 cents per share, at the same time last year...
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Yahoo Inc.'s second-profit slipped slightly while revenue growth remained lackluster, extending a malaise that prompted the Internet icon to replace its chief executive recently.
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A slowing U.S. economy is already impacting Yahoo Inc.'s Web advertising sales growth, which does not bode well for other ad-supported Internet sites.
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SAN FRANCISCO, Oct. 16 -- Yahoo's third-quarter profit fell less than analysts had expected, raising hopes that the slumping Internet powerhouse can deliver on the comeback promises of a new management team that took over four months ago.
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InfoWorld - Yahoo's fourth-quarter revenue grew, but net income fell as the struggling Internet giant tried to put its house in order and improve its ability to compete against Google and other rivals.
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SAN FRANCISCO/NEW YORK  - Yahoo Inc  posted a drop in quarterly profit on Tuesday and forecast 2008 revenue below Wall Street forecasts as it cuts jobs and invests to shore up its Web advertising business.