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Wednesday, 19 October 2011 - Yahoo Q3 revenue, profit slip |
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      Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Home Business Business Home Economy Technology Media Small Business Green Business Legal Deals Earnings Summits Business Video Markets Markets Home U.S. Markets European Markets Asian Markets Global Market Data Indices M&A Stocks Bonds Currencies Commodities Futures Funds peHUB World World Home U.S. Brazil China Euro Zone Japan Mexico Russia Afghan Journal Africa Journal India Insight Global News Journal Pakistan: Now or Never? 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Don’t ask Ross Levinsohn Tech wrap: Apple’s “Siri” spurs iPhone 4S sales Related Topics Technology » Hot Stocks » Asian Markets » The Yahoo! offices are pictured in Santa Monica, California April 18, 2011. Yahoo! will report its quarterly results on Tuesday. Credit: Reuters/Mario Anzuoni SAN FRANCISCO | Tue Oct 18, 2011 5:12pm EDT SAN FRANCISCO (Reuters) - Yahoo Inc managed to meet all its quarterly earnings targets in the third quarter, even as it fielded offers from potential buyers and searched for a new chief executive. Yahoo, which fired former CEO Carol Bartz in early September before the end of the third quarter, posted slight decreases in net revenue and profit, but those declines were not unexpected. Yahoo shares gained roughly 3 percent to $15.98 in after hours trading on Tuesday. Profit in the third-quarter totaled $293 million, or 23 cents per share, compared with net income of $396 million, or $29 per share, in the year-ago period. It was not immediately clear whether Yahoo's third-quarter EPS was comparable with the 17 cents a share expected by analysts polled by Thomson Reuters I/B/E/S. Yahoo's net revenue -- which excludes fees paid to partner websites -- was $1.07 billion, compared with $1.12 billion at this time last year, and in line with Wall Street expectations. The Sunnyvale, Ca-based Internet icon, which has struggled to revive its online advertising business, said it agreed to extend the revenue per search guarantee in its deal with Microsoft Corp through March 2013. The extension applies only to the United States and Canada, however. Yahoo said it remains fully committed to the success of the search alliance and that the extension represents an "important sign of that commitment." Microsoft, which offered to acquire Yahoo for $47.5 billion a few years ago, is weighing making another run at buying the company, either by itself or in partnership with others. In an interview with Reuters, Yahoo interim-CEO Tim Morse said premium display advertising sales were on target for the third quarter, but that non-premium ad sales has a bit of an "underrun." Morse added that, on a year-over-year basis premium display, ads sales were up less than 5 percent and non-premium ad sales were down by a similar amount. Morse declined to provide an update on Yahoo's CEO search, saying only that "the board process was underway." The company has retained investment banking firm Allen & Co to help conduct a "strategic review" of its business. For the fourth-quarter, Yahoo projected net revenue of $1.125 billion to $1.235 billion, compared with $1.22 billion expected by analysts. (Reporting by Alexei Oreskovic; editing by Andre Grenon) Technology Hot Stocks Asian Markets Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints   We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. Social Stream (What's this?)   Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Back to top Reuters.com Business Markets World Politics Technology Opinion Money Pictures Videos Site Index Legal Bankruptcy Law California Legal New York Legal Securities Law Support & Contact Contact Us Advertise With Us Connect with Reuters Twitter   Facebook   LinkedIn   RSS   Podcast   Newsletters   Mobile About Privacy Policy Terms of Use Our Flagship financial information platform incorporating Reuters Insider An ultra-low latency infrastructure for electronic trading and data distribution A connected approach to governance, risk and compliance Our next generation legal research platform Our global tax workstation Thomsonreuters.com About Thomson Reuters Investor Relations Careers Contact Us   Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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