Find What i Write

Yahoo Profit Up on Web Ads, Stock Rises

Yahoo Inc. said April 19th its quarterly profit doubled on Web advertising growth and it issued a healthy forecast for the current quarter, sending its shares up 5 percent.

The strong results and higher outlook from the Internet media company, whose site Yahoo.com is the U.S. leader.

Yahoo posted net income of $205 million, or 14 cents a share, in the first quarter, up from $101 million, or 7 cents a share, a year earlier.
Analysts on average had expected the company to post a net profit of 11 cents a share on net revenue of $798 million, according to Reuters Estimates.

Fast-growing Web search advertising provides close to half of Yahoo's overall revenue and virtually all of Google's.

Web search is seen accounting for 41 percent of all online ad spending in 2005, when total Web advertising is expected to grow 21 percent year-over-year to $11.5 billion, according to eMarketer.

Yahoo, which provides everything from Web search and e-mail to news, shopping and horoscopes, increasingly is delivering original content that can carry additional advertising, a move that differentiates it from Google.

see also: reuters

posted by What I Write @ Article