Yahoo first quarter exceeds expectations
8 April 2004
Internet giant Yahoo has reported first quarter profits that dramatically exceed market expectations.
The web company's board of directors also approved a surprise 2-for-1 stock split, payable beginning May 11th. Yahoo last split its stock in January 2000, at the height of the dot com boom.
Improved online advertising revenue and the continuing success of its paid search service helped boost profits at the start of the year.
Yahoo announced that it more than doubled its first-quarter profits for the three months ending March 31st. Profits for the quarter reached $101.2 million, or 14 cents a share, compared with $46.7 million, or 8 cents a share, a year ago. Revenue rose to $757.8 million, more than double the $283 million reported for the same period in 2003.
Yahoo CEO Terry Semel told a press conference: "I have a big smile on my face. This is by far the most successful quarter in Yahoo history."
Yahoo ad revenue jumped 235 per cent to $635 million during quarter 1, while revenue from fees for premium services rose 39 per cent to $88 million and income from job listings and other online classified advertising was up 16 per cent.
Apply for your free web assessment - get a complete health check and optimisation action plan from Weboptimiser, the experts.
Related news
|
|
Leading brand search engine marketing since 1996
Founded in 1996 as an SEO company, Weboptimiser is today one of the Internet marketing sector's best-known and most respected search engine optimisation (SEO) and pay per click (PPC) search engine marketing companies.
With a unique portfolio of brand-friendly services, including usability, contextual advertising and web analytics, a pioneering methodology that covers all 4 stages of interaction between a web site and its visitors, we make our clients sites faster, smarter, busier and more profitable.
