Yahoo profit falls, CEO Yang sees 2008 "headwinds"
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Yahoo Inc  reported a drop in quarterly profit on Tuesday and its shares fell nearly 7 percent as Chief Executive Jerry Yang predicted a tough 2008 amid a weakening U.S. economy.
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Yahoo Inc. YHOO.O Chief Financial   Officer Sue Decker said on Tuesday the company expects to   deliver third-quarter results "at the bottom half of the range   of financials" previously forecast.
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Shares of Yahoo Inc  fell nearly 9 percent on Wednesday after the Internet company predicted a tough 2008 amid a weakening U.S. economy.
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Wall Street's applause for Yahoo's (YHOO) choice of a new chief executive didn't last long. While the shares got a boost immediately after the company said Jerry Yang would replace Terry Semel as the company's top Yahoo, the stock gave up part of those gains the following day, June 19.
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Yahoo Inc. YHOO.O said on Tuesday it   expects third-quarter revenue to be at the bottom half of its   forecast range due to weakness from two of its biggest   advertising segments, sending its shares down as much as 13   percent.
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Yahoo Inc. Tuesday reported hefty gains in revenue and profit for the fourth quarter and all of 2004, a period that the company's chief executive referred to as "the beginning of a tipping point in advertising."-The Washington Post
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In Yahoo's third-quarter performance call yesterday, investors and analysts heard for the first time the lower-key, back-to-basics approach of co-founder and re-installed CEO Jerry Yang, and newly elevated president Susan Decker. There's evidence their strategy is already working, but the next move involves a carefully calculated approach to attracting customers that goes against the current trend.
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Yahoo Inc. Chief Executive Jerry Yang told employees Wednesday that the struggling Internet pioneer is still examining ways to avoid a takeover by rival Microsoft Corp.
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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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SANTA CLARA, California  - Shareholders at the annual meeting of Yahoo Inc.  voted down proposals to control executive pay and challenging the company's human rights policies in China, a supervisor of the votes said on Tuesday.
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Yahoo Inc.  on Monday  tapped co-founder Jerry Yang to replace Chief Executive Terry  Semel, bowing to investor pressure as the Internet media  company has failed to keep up with rival Google Inc. .
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InfoWorld - Yahoo&#39;s net income fell year-over-year in a quarter that saw&#160;Yahoo leadership change hands&#160;amid criticism that the company failed to capitalize on the explosive growth of the search-engine advertising market.
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Yahoo Inc. reported on Tuesday a  quarterly net profit that more than tripled from the year  earlier, boosted by the sale of shares it held in rival Google  Inc. and stronger online ad revenue that analysts said may  signal good results from other Web search providers.
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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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Yahoo CEO Jerry Yang cited the growing online advertising market and his company&#39;s position to take advantage of that growth as reasons for shareholders to&#160;reject Microsoft&#39;s acquisition bid, he said in a letter to shareholders Wednesday.The letter, the contents of which Yahoo made public Wednesday, stated that&#160;Microsoft&#39;s February 1, $44.5 billion unsolicited takeover offer&#160;was too low. Yang said that Yahoo is the most visited site in the United States, held the top position in online display advertising, and counted almost one out of two of the world&#39;s Internet users as its members. He also said Yahoo is the top mobile destination in the U.S.Yang did not cite sources for most of his claims. However, comScore Networks research from November 2007 confirmed Yahoo&#39;s online display advertising leadership, with almost 19 percent of the market.The online ad market is expected to grow from $45 billion last year to $75 billion in 2010, Yang said, and that Yahoo wanted &quot;to take advantage of what we see as a unique window of time in the growth -- and evolution -- of this market to build market share and to create value for stockholders.&quot;The company plans to grow visits to its properties &quot;by 15 percent per year over the next several years,&quot; although did not specify how. He also said that Yahoo&#39;s own search marketing system,&#160;Panama, along with two 2007 acquisitions -- Right Media and Blue Lithium -- would &quot;complement and enhance Yahoo!&#39;s existing capabilities and will make it easier for advertisers and online publishers to buy and sell advertising online.&quot;Both Yahoo and Microsoft have struggled to compete with Google&#39;s success in online advertising, specifically its paid search and Adwords programs. Based on the same comScore data, Microsoft captured only 6.7 percent of online display ads. That poor performance is seen as the main impetus behind its move for Yahoo.The letter made no mention of&#160;talks with News Corp.&#160;for some sort of share swap, intended either to offset Microsoft&#39;s interest or force the software company to boost its bid for Yahoo, as reported late Wednesday in The Wall Street Journal.
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(InfoWorld) - Terry Semel ended his six-year run as Yahoo's CEO on Monday, and the company's co-founder Jerry Yang will take over from him, the company said. Semel has been the focus of intense criticism in the past two years due to Yahoo's inability to capitalize as much as expected on the fast-growing market for search engine advertising. By contrast, Google has enjoyed eye-popping revenue growth and enviable profits almost exclusively from the search advertising market. Last week, at Yahoo's annual shareholder meeting, Semel fielded stinging criticism from shareholders in attendance, leading to tense exchanges at times. Semel resigned from his position as CEO and chairman and will become the role of non-executive chairman and serve as advisor to the management team. Semel became chairman and CEO in May 2001. The board of directors appointed Yang, who cofounded the company 12 years ago, as CEO, and Susan Decker, former executive vice president and head of Advertiser and Publisher Group, as the company's president. In a webcast, Semel said he had told the board that he wanted to step back from his executive role "sooner rather than later" and that he and the board agreed this would be a good time for him to step down as CEO. "I've long been talking to the board about the importance of ensuring a smooth succession to Yahoo's senior leadership," Semel said. Semel expressed full confidence that Yang and Decker are the right people to carry Yahoo "through its multiyear transformation" while acknowledging that the past year has been a difficult one for Yahoo and that no one in Yahoo's management has been satisfied with the company's performance. (More to follow.)
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US Internet portal Yahoo's profit grew fivefold in the fourth quarter from a year earlier to 373 million dollars, lifted by strong advertising revenues and one-time gains, the company said.