Yahoo Reports Higher Profits

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Fueled in part by a comeback in online advertising, Yahoo yesterday reported higher profits and revised its business outlook upward.


Yahoo, Sunnyvale, CA, reported a net profit of $50.8 million, or 8 cents per share, for the second quarter of 2003, compared with a profit of $21.4 million, or 3 cents per share during the same period a year earlier. Revenue rose to $321.4 million for the second quarter of 2003, up from $225.8 million for the same period a year earlier.


Marketing services revenue for the second quarter of 2003 was $219.2 million, a 44 percent increase from last year, which was driven in part by a strong increase in revenue from sponsored search services, Yahoo reported.


Revenue from fee-based services for the quarter was $69.9 million, a 43 percent increase over the same period last year, according to Yahoo.


Listings revenue was $32.3 million, up 29 percent from the same period last year.


The company forecast that its revenue for 2003 will range from $1.26 billion to $1.31 billion.


"As we exit our fifth consecutive quarter of GAAP profitability, we continue to execute upon the key business and financial objectives we have laid out as a company, resulting from a steadily increased base of hundreds of blue-chip traditional marketers, thousands of small- and medium-sized business and millions of worldwide customers," Yahoo CFO Susan Decker said in a statement.


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