Yahoo! - Revenues and Losses Up
The result that Internet stock watchers have been waiting for is out and while revenue outstripped forecasts, losses continue to increase for Yahoo! Inc.
Revenues for the California-based company more than doubled to $115.2m from $44.9m a year ago, surpassing some analyst forecasts of $103m in revenues. (All figures in US dollars)
But including charges for acquisitions and other items, Yahoo! lost $15.1m (or 7 cents a share) compared to a loss of $14.2m (8 cents a share) a year ago.
An upbeat Chief Executive, Tim Koogle pointed to visitor growth as the way forward to profitabily. Yahoo! Said it registered an average of 310m page views a day in June, compared to an average of 235m in March. It also said it had more than 80m unique users in June.
Earlier in the week, Yahoo! and satellite broadcaster BSkyB annouced that they had agreed a marketing deal for the UK and Ireland, spanning their TV and Internet ventures. BSkyB is 40%-owned by Rupert Murdoch's News Corporation. The agreement is an extension of the alliance between News Corp. and Yahoo! announced earlier this year.
The full release from Yahoo is in the