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Yahoo Beats Wall Street - Broadcasting & Cable

Yahoo Beats Wall Street

Internet-Service Co.’s Q3 Numbers Top Analysts’ Expectations
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Yahoo saw its profit slide 5% in the third quarter of 2007 but beat consensus earnings estimates.

The Internet-service company’s net income in the quarter was $151 million, or $0.11 per share, compared with $159 million ($0.11) in the same quarter a year ago. The analyst average estimate was for earnings per share of $0.08.

The company saw revenues rise 12% to $1.77 billion from $158 billion in Q3 2006 while operating income before depreciation, amortization and stock-based compensation expense was $466 million compared with $474 million last year. Yahoo’s free cash flow was $310 million in the quarter, an 8% increase from $288 million in the year-ago period.

"Moving forward, we are focused on three big, multiyear objectives,” Yahoo cofounder and CEO Jerry Yang said in a statement. “To become the starting point for the most consumers on the Internet; to be the 'must-buy' for the most advertisers; and to deliver open, industry-leading platforms that attract the most developers. We are executing against our transformation and are excited about playing a leadership role in the large and growing Internet market."

Yahoo also said it inked an exclusive, multiyear search and advertising-distribution agreement with WebMD, as well as display advertising agreements with Cars.com, Forbes.com and Ziff-Davis Media.

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