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Yahoo Doubles Profits, Announces Stock Split
WebProNews
Staff Writer
2004-04-08
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Yahoo released its 1st quarterly report for this fiscal year, and the news for the web's most popular portal was filled with superlatives. The newest report shows that Yahoo more than doubled last year's first quarter profits.
Besides the successful financial reports, Yahoo is also announcing that it plans on offering investors a 2 for 1 spilt of its stocks. The company is doing this to make its stock more affordable.
Speaking to SiliconValley.com, Yahoo CEO Terry Semel was understandably ecstatic. "I have a big smile on my face,'" he said. "This is by far the most successful quarter in Yahoo history."
Yahoo's profits for the 2004 1st quarter, which ended March 31st, reached $101.2 million, compared to $46.7 million from the previous year. Yahoo's revenue for the 2004 1st quarter was $757.8 million, which shatters the reported $283 million from the same quarter in 2003.
Yahoo's big profit boost came from its ad revenue. The intake from their ads jumped 235 percent to $635 million.
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