Yahoo Inc. (YHOO) Stock Soars in the Aftermarket
Yahoo Inc. said Tuesday its third quarter net income was $151 million, or 11 cents a share, down slightly from $159 million, also 11 cents a share, in the same period last year.
Sunnyvale-based Yahoo (NASDAQ: YHOO - News) reported $1.77 billion in revenue, a 12 percent increase over the year-ago quarter's $1.58 billion.
Excluding items -- among them $145 million in stock-based compensation expense -- the company's income would have been $238 million, or 17 cents a share, compared with $240 million, or 17 cents a share, in the year-ago quarter.
In July, Yahoo forecast third-quarter revenue, excluding traffic acquisition costs, would be from $1.17 billion to $1.31 billion, as new CEO Jerry Yang pledged to create a turnaround strategy that included a revamp of the company.
Analyst expected, on average, earnings of 8 cents a share on $1.24 billion in revenue.
"Over the past three months, we conducted a thorough review of our business and the marketplace," said Yang. "We've made key strategic decisions to invest in and grow our large communities of users, advertisers, and publishers. We've also made progress in sharpening our focus and improving our execution."
Published October 16, 2007 by the East Bay Business Times
Sunnyvale-based Yahoo (NASDAQ: YHOO - News) reported $1.77 billion in revenue, a 12 percent increase over the year-ago quarter's $1.58 billion.
Excluding items -- among them $145 million in stock-based compensation expense -- the company's income would have been $238 million, or 17 cents a share, compared with $240 million, or 17 cents a share, in the year-ago quarter.
In July, Yahoo forecast third-quarter revenue, excluding traffic acquisition costs, would be from $1.17 billion to $1.31 billion, as new CEO Jerry Yang pledged to create a turnaround strategy that included a revamp of the company.
Analyst expected, on average, earnings of 8 cents a share on $1.24 billion in revenue.
"Over the past three months, we conducted a thorough review of our business and the marketplace," said Yang. "We've made key strategic decisions to invest in and grow our large communities of users, advertisers, and publishers. We've also made progress in sharpening our focus and improving our execution."
Published October 16, 2007 by the East Bay Business Times
Labels: Yahoo Inc., YHOO
posted by Stock Administrator @ 12:49 AM
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