Feeds

Yahoo! president! to! quit!

Cheerio!

  • alert
  • submit to reddit

Beginner's guide to SSL certificates

Yahoo! Inc's president and COO, Jeff Mallett, will step down in April after seven years at the Internet giant.

Some reports claim Mallett's decision comes after being overlooked for the job of chairman and CEO, which went to Terry Semel last year.

Yahoo! insists, though, that his departure will enable him to "take advantage of greater flexibility for family and business interests".

News that Mr Mallet has decided to bow out coincides with the publication of the latest batch of financial results from the company.

In the three months to the end of December Yahoo! lost $8.7 million on revenues of $188.9 million.

During the same period last year revenues topped $310.9 million against losses of $97.8 million.

Revenues for the full year slipped to $717.4 million with losses of $92.8 million compared to net revenues of $1.1 billion in 2000 and earnings of $70.8 million

CEO Terry Semel admitted that 2001 was a year of "challenges and transition" but said that Q4 revenues and income exceeded its expectations.

Looking ahead, Yahoo! expects revenues for Q1 2002 to come in somewhere between $160 and $180 million, and between $750 and $800 million for the full year.

On Tuesday online auction site, eBay, reported healthy figures, capping off what president and CEO, Meg Whitman, described as "an outstanding year".

Q4 revenues hit a record $219.4 million - up 64 per cent on the same period last year - against net income of $26 million.

For the full year, net revenues were up a whopping 74 per cent at $748.8 million with net income of $90.4 million.

eBay also reported that its international business achieved operating profitability for the first time in Q4.

Looking ahead, eBay predicts that H1 revenues will come in between $490 million and $510 million. ®

Related Stories

Yahoo! wrests HotJobs from Monster.com
Yahoo! to! shed! 400! jobs!
Yahoo! Sales! Down!

Providing a secure and efficient Helpdesk

More from The Register

next story
Scrapping the Human Rights Act: What about privacy and freedom of expression?
Justice minister's attack to destroy ability to challenge state
WHY did Sunday Mirror stoop to slurping selfies for smut sting?
Tabloid splashes, MP resigns - but there's a BIG copyright issue here
Hey Brit taxpayers. You just spent £4m on Central London ‘innovation playground’
Catapult me a Mojito, I feel an Digital Innovation coming on
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
EU to accuse Ireland of giving Apple an overly peachy tax deal – report
Probe expected to say single-digit rate was unlawful
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
EU probes Google’s Android omerta again: Talk now, or else
Spill those Android secrets, or we’ll fine you
prev story

Whitepapers

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.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.