Yahoo! (YHOO) Jumps On Solid Q3 Report, "Stabilized" Business
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Yahoo! Inc. (Nasdaq: YHOO) reported strong third quarter results with EPS of $0.15, beating the analyst estimate of $0.07. The company's revenue of $1.575 million decreased 12 percent from the year-ago quarter, however slightly above the 2009 second quarter. Revenues ex-TAC was $1.13 billion, versus the consensus of $1.12 billion.
The news of the strong EPS results has caused heavy after-hours market movement for Yahoo! Inc. after they saw a slight dip while investors waited to see the third quarter results.
"With revenue coming in above our guidance and flat sequentially, we had a solid third quarter that signals our major businesses have stabilized," said Yahoo! chief executive officer Carol Bartz.
Bartz also attributed the growth in EPS to the new products rolled out in the quarter such as the Yahoo homepage and expansion into developing markets such as the Middle East through Maktoob.com.
"Our efforts to reposition Yahoo! are still in the early stages, but we're confident that our investments in the business will enable us to capitalize on growth opportunities as the economy recovers," added Yahoo! chief financial officer Tim Morse.
In the conference call following the release of the results, Yahoo! Made it clear that its pending deal with Microsoft (Nasdaq: MSFT) does not mean that the company is not abandoning the search engine aspect of its business.
Looking ahead, Yahoo! sees Q4 revenues of $1.6-$1.7 billion.
UPDATE: Click here to see some highlights from Yahoo!'s Q3 conference call.
The news of the strong EPS results has caused heavy after-hours market movement for Yahoo! Inc. after they saw a slight dip while investors waited to see the third quarter results.
"With revenue coming in above our guidance and flat sequentially, we had a solid third quarter that signals our major businesses have stabilized," said Yahoo! chief executive officer Carol Bartz.
Bartz also attributed the growth in EPS to the new products rolled out in the quarter such as the Yahoo homepage and expansion into developing markets such as the Middle East through Maktoob.com.
"Our efforts to reposition Yahoo! are still in the early stages, but we're confident that our investments in the business will enable us to capitalize on growth opportunities as the economy recovers," added Yahoo! chief financial officer Tim Morse.
In the conference call following the release of the results, Yahoo! Made it clear that its pending deal with Microsoft (Nasdaq: MSFT) does not mean that the company is not abandoning the search engine aspect of its business.
Looking ahead, Yahoo! sees Q4 revenues of $1.6-$1.7 billion.
UPDATE: Click here to see some highlights from Yahoo!'s Q3 conference call.
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