Yahoo! increases! Q1! revenue!
Posts! losses! too!
Yahoo! Inc remains chipper about the future despite posting yet another quarterly loss.
Publishing Q1 results for the three months ended March 31 Yahoo! reported that revenues had grown from $180 million in 2001 to just shy of $193 million this year.
The monster Internet portal reported a net loss for Q1 of $53.6 million - up from $11.5 million during the same period last year.
Looking ahead, Yahoo! reckons that its decision to start charging for certain services - such as some email services - and relying less on ad revenue is beginning to pay off.
Said Susan Decker, CFO, at Yahoo!: "Our first quarter results show momentum and progress toward our goal to maximize long-term free cash flow.
"This quarter also demonstrated the growing success of our monetization strategy, to draw increased value from our enormous consumer base and find new ways to drive financial value."
Yahoo! anticipates "strong, profitable growth in 2002" with Q2 revenues expected to come in somewhere between $205 and $225 million, and between $870 and $910 million for the full year 2002, she added.
EBITDA (earnings before interest, taxes, etc) is expected to be between $23 and $33 million for the second quarter 2002 and between $105 and $130 million for the full year 2002. Which is nice. ®