Yahoo Sees Revenue, Profit Growth
Yahoo said yesterday it continued to benefit from the online advertising industry's rebound in the third quarter.The Sunnyvale, CA, company reported sales, excluding money paid to search partners, totaling $655 million in the quarter, an 84 percent increase from a year earlier. The company recorded net income of $124 million, nearly double its results from the year-ago period.
Including the $129 million Yahoo gained from selling shares of Google, the company's net income for the quarter was $253 million.
The strength of the online ad market again led the way for Yahoo. Its marketing services revenue for the quarter was $765 million, up from $245 million in 2003. The increase results mainly from Yahoo's acquisition of Overture Services, its paid listings arm.
Yahoo expects a robust fourth quarter, projecting sales of $710 million to $760 million. It anticipates operating income prior to amortization and depreciation of $285 million to $315 million.
