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Yahoo 'Thriving' As Quarterly Earnings Top Forecasts
E-Commerce Times
News Source
2003-04-11
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Yahoo's results, released after the markets closed, drove its shares up 4% to $23.70 in after-hours trading. Its shares have more than doubled since October.
Yahoo on Wednesday reported quarterly results that breezed past analysts' expectations -- further indication that it is turning around despite a weak economy.
The Internet leader earned $46.7 million, or 8 cents a share, in its first quarter. Analysts expected earnings of 6 cents a share. Last year, Yahoo lost $53.6 million in the quarter.
"Yahoo is not only healthy, it's thriving," says analyst Mark Zadell of Blaylock & Partners. He expects Yahoo's advertising revenue, which withered during the dot-com meltdown, to grow 13% to $580 million in 2003. The overall ad market is expected to grow 2.5%.
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The E-Commerce Times has been providing "Daily E-Business News & Analysis" for more than 4 years and has been ranked repeatedly by Forbes Magazine as one of the top-ten tech news sites. Objective reporting and in-depth analysis have made the E-Commerce Times a must-read publication for business and I.T. decision-makers. The E-Commerce Times is part of NewsFactor Network™, one of the leading e-business & technology news networks in the U.S.
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