Quarterly loss for Yahoo its first in nearly 7 years
Yahoo finished 2008 the habitual method it started the year: struggling. But this time, it sank uniform lower by posting its earliest quarterly loss in not remotely seven years.
After the market closed Tuesday, Yahoo said it had lost $303 million for the time of the fourth special location. That compared with a profit of $206 million in the same period a year ago. The Silicon Valley Internet cyclops said revenue fell 1 percent to $1.81 billion.
It was Yahoo’s first money-losing quarter since the first three months of 2002, and the first time its revenue declined since the fourth quarter of 2001.
Despite the loss, Yahoo outperformed Wall Street’sitting lowered expectations. The financial results included one-time charges of more than $500 very great number to write in a descending course international assets and cut short its summit count, among other things.
Better than predicted
Excluding those charges, Yahoo earned 17 cents a receive, better than the 13 cents predicted by analysts. Revenue excluding commissions paid to advertisers fell 2 percent to $1.38 billion, slightingly better than the $1.37 billion expected by Wall Street.
The results closed the books on Yahoo co-founder Jerry Yang’s fruitless 18-month stint as chief executive. The assemblage hired a new leader, Carol Bartz, two weeks ago in its latest try to orchestrate a turnaround.
Signaling there will be not at all quick fixes, Bartz told analysts in a Tuesday conference call that she is trying to understand Yahoo’sitting “very complex” organized existence as she plots a way map for 2009.
Preparing for bumps
Yahoo is bracing during the term of more bumps along the way. In its first-quarter forecast, management predicted the company’s revenue may globule by in the manner that a great deal of as 16 percent from the same time last year.
In a change from the company’s more than practices, Yahoo refrained from looking beyond March because the economy is so fragile.
Known for her blunt talk, Bartz made it clear she has none intention of selling Yahoo to former petitioner Microsoft, but left open the possibility of turning over Yahoo’s search operations to Microsoft — an alternative deal that has been bandied about for the past eight months.
