Yahoo! profits double
Yahoo! had a storming quarter in Q2, but Wall Street was not impressed. The company forecasts sales of $2.46bn to $2.54bn for 2004, a little above the $2.41bn - $2.52bn it predicted three months ago. But analysts think the dotcom giant should be doing even better, and the company was hammered in after-hours trading. Last night Yahoo! shares slid 12 per cent from $32.60 to $28.7212.
At least the company met the money mens' expectations for Q2. For the quarter ending 30 June, Yahoo! posted revenues of $832m, (Q2 2003: $321.4m). Net income was $113m (Q2 2003: $51m). Marketing services revenue was $691m, A 215 per cent jump on last year (Q2 2003: $219m). Fees revenue rose 49 per cent to $104m and listing sales climbed 17 per cent to $38m. ®