Web portal Yahoo today delivered tepid third-quarter revenue growth and forecast weaker-than-expected sales in the fourth quarter as it continues to lose market share to rivals like Google.
Web portal Yahoo today delivered tepid third-quarter revenue growth and forecast weaker-than-expected sales in the fourth quarter as it continues to lose market share to rivals like Google.
Yahoo, the second-ranked US search engine behind Google, projected fourth-quarter revenue, excluding traffic acquisition costs, of $1.125 billion to $1.225 billion. Analysts were looking for revenue of $1.26 billion, according to Thomson Reuters I/B/E/S.
Net income in the three months ended September 30th was $396.1 million, or 29 cents a share, compared with $186 million, or 13 cents a share, in the year-ago period. But it said its earnings included a 13 cent benefit from the sale of its "HotJobs" Web service. Analysts had expected 15 cents a share.
Net revenue, which excludes revenue it shares with website partners, totalled $1.12 billion in the third quarter, compared with $1.13 billion in the year-ago period and slightly below the $1.13 billion expected by analysts.
Yahoo shares have gained more than 6 per cent since reports last week that a variety of private equity firms, including Silver Lake Partners, were exploring a potential buyout of the company. They held steady at $15.44 in extended trading today.
Reuters