InfoAnda - profits rise as revenues slide

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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Search Search: Yahoo! profits rise as revenues slide AFP - Wednesday, July 22 SAN FRANCISCO (AFP) - - Yahoo! reported second-quarter profit rose eight percent as cost-trimming enabled the struggling Internet firm to offset sliding revenues. ADVERTISEMENT Yahoo! said its net income in the quarter ending June 30 was 141 million dollars, or 10 cents per share, as compared to 131 million dollars, or nine cents per share, in the same period last year. But Yahoo! also reported that net revenue for the quarter slipped to 1.14 billion dollars from 1.35 billion dollars in the same quarter in 2008. "I'm pleased with our results this past quarter," said Yahoo! chief executive Carol Bartz. "We established a clear, simple vision to be the center of people's lives online, and we're backing that vision with important initiatives to create 'wow' experiences for our users." Yahoo! stock price sank more than three percent to 16.21 dollars per share in after hours trading that followed release of the earnings figures. In a conference call with analysts and reporters, Bartz said Yahoo! will invest millions in products, engineers, and promotions in the faith that eating into profit margins now will pay-off once the economy rebounds. "There is certainly reason to believe that revenue will not stay flat forever," Bartz said. "We're going to get efficiency; we think revenue is going up." The release of the earnings figures came on the same day Yahoo! began rolling out a promised major redesign of its homepage to revitalize its image and incorporate hot new online trends. The debut of the promised overhaul comes several months ahead of schedule and as speculation grows of renewed talks of an online search deal between Yahoo! and global technology giant Microsoft. Bartz did not comment on rumored talks with Microsoft regarding an online search advertising deal with the Redmond, Washington-based colossus. She gave her stamp of approval to Microsoft's new Bing search engine. "I think Bing is actually a good product," Bartz said. "Microsoft deserves kudos for Bing." Bartz replaced Yahoo! co-founder Jerry Yang as chief executive about six months ago amid stockholder fury regarding failed talks with Microsoft, which wanted to merge the companies online search resources to better battle Google. Bartz has stated publicly that she is open to a deal with Microsoft but that she believes Yahoo!'s search business to be worth "boatloads of money." A visit to the new Yahoo! homepage reveals a customizable toolbar on the left of the page, which allows users to connect with their favorite outside applications including hot online services such as Facebook. "Today's launch represents the most significant change to the Yahoo! homepage since the company's inception," Sunnyvale, California-based Yahoo! said in a release. "This launch is a major milestone in the Yahoo! Open Strategy, which seeks to mesh the Yahoo! experience with the best online content and services." Yahoo! began its Open Strategy early last year in a move that built on a Facebook-led trend to open once-walled operating platforms to hip, fun or useful applications made by outside developers or other Internet services. The new Yahoo! homepage is available in the United States at yahoo.com/trynew and is to roll out in France, India, and Britain in the coming week. Email Story IM Story Printable View Blog This Sign in to recommend this article » 0 users recommend Related Articles: Internet Portals & Search Engines Apple posts 1.23 bln dlr profit in latest quarterAFP - Wednesday, July 22 Yahoo! profits rise as revenues slideAFP - Wednesday, July 22 Yahoo! to unveil redesign: reportAFP - Tuesday, July 21 Barnes & Noble launches world's largest eBook shopAFP - Tuesday, July 21 Related Articles: Technology Disney Japan to sell movies in tiny memory cardsReuters - Wednesday, July 22 Yahoo! profits rise as revenues slideAFP - Wednesday, July 22 Britain's National Gallery offers its art on the iPhoneAFP - Wednesday, July 22 US quashed report on dangers of phone use while drivingAFP - Wednesday, July 22 Rural U.S. carriers unimpressed with Verizon offerReuters - Wednesday, July 22 Enlarge Photo Sign in front of Yahoo! headquarters in Sunnyvale, California. Yahoo! reported second-quarter profit of 143 million dollars, beating Wall Street expectations for the pioneering Internet firm. Related Photos Slideshow Full Photo Coverage: Internet Portals & Search Engines Related Full Coverage Internet Portals & Search Engines Latest development in the online world All Full Coverage Most Popular – Technology Viewed Lost love letter reunites couple after 16 years Shark attack victims fight for their attackers Man who went to the moon and came back an artist Call girl scandal deepens for Italy's Berlusconi Madonna visits family of dead Marseille stage hand View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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