Yahoo Q3 Profit Soars High
A new data released on Tuesday showed that Internet giant Yahoo Inc. has made an outstanding third quarter number by increasing revenue by more than three times.
Analysts said that the figures pointed to better outlook by investors for Yahoo as the company prepares to launch an all out restructuring of its operations in the wake of the recession.
Yahoo Inc. on Tuesday released its third quarter results showing that its third quarter profit has increase more than three folds, suggesting that the online giant is already out of the slump.Despite recent slash in its advertising and operating costs, Yahoo is now looking better to investors as figures soar high in Q3 of the year, the numbers have increase by more than three times from last year.
Also, the embattled online giant was also able to improve its standing with the sale of its stake at Alibaba.com in China, pocketing some $98 million.But despite the year-over-year improvement, Yahoo’s revenue in September fell by more than 12 percent, the third straight month of slide down the chart. Analysts said that this may mean a longer recovery period for the Internet firm as sales tried to pick pace in the wake of the recession.
For their part, Yahoo chief executive officer Carol Bartz said that the worst is over for the online company, saying that it is now time to make up with the lost sales by boosting its operations globally. Based on records, Yahoo posted a $186 million for the July-September quarter, roughly 13 cents per share. It was more than three times it has earned at the same time last year, which is only $54 million or 4 cents per share.
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