After the stock market closed today, Yahoo reported its earnings for the quarter ended September 30, 2010.
Revenue was $1,601 million for the third quarter of 2010, a 2% increase from the third quarter of 2009.
Income from operations for the third quarter of 2010 was $189 million, an increase of 107%.
Excluding restructuring charges of $17 million in the third quarter of 2009 and $6 million in the third quarter of 2010, income from operations increased 80% year over year.
Net earnings per diluted share for the third quarter of 2010 was $0.29, compared to $0.13 in the third quarter of 2009, a 126%increase.
“We delivered a solid quarter with good display advertising revenue growth, big gains in operating income, and margins that were double what they were last year,” said Carol Bartz, president and CEO of Yahoo!. “Because we recognize the tremendous value of our assets, we also dramatically stepped up our stock repurchases. We’ve now bought back more than 7% of the company’s stock this year alone.”
“We’ve made substantial progress this year toward executing our strategies for enhancing profitability and resuming revenue growth. Margins are expanding; owned and operated display advertising is up 18% so far this year; product rollouts are accelerating thanks to modernization of our underlying platforms; and we continue to implement our search alliance with Microsoft on schedule,” continued Bartz. “We’ve disposed of non-core assets while making strategic acquisitions like Associated Content and Citizen Sports, and we’ve developed key partnerships with Facebook, Twitter, and Zynga to enhance the Yahoo! experience for our 600 million users.”
Yahoo’s results for the three months ended September 30, 2010 reflect $81 million in search operating cost reimbursements from Microsoft under its Search and Advertising Services and Sales Agreement.
Marketing services revenue increased 4% revenue decreased 15%, compared to the third quarter of 2009.
However in its outlook guidance Yahoo said 4th sales will be $1.13 billion to $1.23 billion.
Analysts had estimated $1.25 billion on average.
Shares of Yahoo are up 1% in after hours trading
the #1 mistake of the millennium has been the refusal of the Yahoo ex-CEO to sell the company to Microsoft for over $45 BILLION
Yahoo Results ==> Shares jump 1% in after hours trading.
Google Results ==> Shares jump 10% in after hours trading.
Google looks a lot more Bullish!
they should have bought toys.com, pizza.com and many others instead of buying yahoo stock
😉
what REALLY counts for aren’t the revenues but the PROFITS
Google, Microsoft and Apple are so powerful because the make billion$ of profits every year and each of them have 20 to 40 billion$ of cash in their pockets!
The best thing happen to Microsoft was they did not buy Yahoo.
I agree, but, not sell Yahoo to MS was a GALACTIC mistake made by the Yahoo guys!
That is not good news for a company that lives strictly from advertising?
I wonder if the “Bing Factor” has anything to do with it , one thing I noticed is that Parking companies fed by Yahoo/Bing are more careful with the quality of traffic nowadays , perhaps they might have a “long term” outlook rather than making a Quick Buck…
When …if some of the shady parking practices ( at Google ) shed light to Advertisers…brace yourselves if your domain’ traffic it’s not strictly “high quality direct navigation ” (in the pure sense as browser type-ins)