Feeds

Yahoo!, Broadcast.com beat expectations

Good news for shareholders as merger vote nears

  • alert
  • submit to reddit

Intelligent flash storage arrays

Yahoo! and Broadcast.com both posted strong financial results, yesterday. Which was just as well since they're both about to merge, if Broadcast.com shareholders approve the deal. Yahoo!'s second quarter, ended 30 June, saw the company record profits of $28.3 million on revenues of $115.24 million, an increase of 156 per cent on the $45 million revenue it posted for the same period last year. Of course, the company made a number of major acquisitions during the period, including GeoCities and Online Anywhere, the result of which was to push its profit for the period into a loss of $15 million. Broadcast.com's Q2 results included a loss of $1.9 million on revenues of $13.5 million, a 138 per cent increase on Q2 1998's revenue ($5.9 million). For the same period last year, the company lost $3.5 million. The latest loss was just over half of what Wall Street had been anticipating, coming in at five cents a share, compared to the nine cents a share loss analysts had expected. Broadcast.com shareholders are due to vote on 20 July on whether to accept Yahoo!'s proposed acquisition of the company through a stock swap. Yahoo!'s original offer, made in April, values Broadcast.com at $5.7 billion. The deal would see each Broadcast.com share swapped for 0.77 Yahoo! shares, which is exactly how the two stocks matched up at close of play yesterday. ®

Choosing a cloud hosting partner with confidence

Whitepapers

Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
5 critical considerations for enterprise cloud backup
Key considerations when evaluating cloud backup solutions to ensure adequate protection security and availability of enterprise data.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Business security measures using SSL
Examines the major types of threats to information security that businesses face today and the techniques for mitigating those threats.