Yahoo! Third-Quarter Revenue, Earnings Drop
October 19, 2011 at 3:58 AM (PT)
YAHOO! third-quarter revenue excluding traffic acquisition costs fell 5% in third quarter 2011 to $1.072 billion, with the drop attributed to decreases in the revenue share from the company's search deal with MICROSOFT. Net earnings fell 26% for the embattled search and media company to $293 million (23 cents per share).
"We're pleased that revenue, operating income and EPS were all above consensus this quarter," said CFO and Interim CEO TIM MORSE. "My focus, and that of the whole company, is to move the business forward with new technology, partnerships, products, and premium personalized content -- all with an eye toward growing monetization."
YAHOO!'s portfolio includes the YAHOO! MUSIC site (including streaming radio channels) and its partnership with GOW COMMUNICATIONS in YAHOO! SPORTS RADIO.