Bank Of Baku

Yahoo’s net profit doubles

Yahoo’s net profit doubles
# 20 October 2010 08:27 (UTC +04:00)
Baku - APA-Economics. Yahoo!’s quarterly net profit more than doubled but revenue growth was flat at the struggling Internet company and its forecast for the current quarter disappointing, AFP reported.

Yahoo! said Tuesday that third-quarter net profit soared to 396.1 million dollars from 186 million dollars a year ago while revenue rose two percent to 1.6 billion dollars.

Revenue was 1.12 billion dollars after accounting for the money Yahoo! pays to those that send visitors to its Internet pages -- slightly less than the 1.13 billion dollars anticipated by Wall Street analysts.

Yahoo! said it expected revenue of 1.125 billion dollars to 1.225 billion dollars in the current quarter.

Yahoo! shares were up 1.03 percent to 15.65 dollars in after-hours trading that followed the earnings release.
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