Yahoo! profits! soar!
Portal second most visited Net entry point after AOL
Yahoo! posted Q3 profits of $16.1 million on revenues of $53.6 million, well up on analysts' predictions. For the same period last year, the company's revenues were $18.1 million, generating $681,000 in profits.
The company also reported an increase in site traffic of, on average, 144 million page views per day in September, up from 115 million in June. Yahoo! claimed 25 million unique registrations for the quarter. Yahoo! cites Media Matrix figures which showed its US site was the leading portal for work-based users (46 per cent) and was number two (behind AOL) for home users (40.4 per cent).
"Our strong revenue growth during the quarter was the result of expanded services and growth in advertisers and merchants," said, Yahoo! president and CEO Tim Koogle.
"We continue to manage the business carefully and generate a positive cash flow from operations. As we enter the next phase of the business, we are focused on investing substantially on several fronts to grow our worldwide presence." ®