Feeds

Yahoo!, Broadcast.com beat expectations

Good news for shareholders as merger vote nears

  • alert
  • submit to reddit

Maximizing your infrastructure through virtualization

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. ®

Top three mobile application threats

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
White? Male? You work in tech? Let us guess ... Twitter? We KNEW it!
Grim diversity numbers dumped alongside Facebook earnings
Microsoft: We're making ONE TRUE WINDOWS to rule us all
Enterprise, Windows still power firm's shaky money-maker
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.