Yahoo(YHOO) has issued its first-quarter report and at first glance it looks like it is devastating as profits dropped by 22 percent, based upon higher operating expenses and the stock-option costs for employees.
The news isn't really as bad as it seems though as sales really grew tremendously in the online advertising venue.
According to Yahoo the net income that ended with March 31 dropped to $159.9 million, or 11 cents a share from $204.6 million during the same period last year. The stock-option expense was $71 million, up from $6 million last year. Sales surged up 34 percent from $1.17 billion last year to $1.57 billion this year.
Analysts feel that this is actually a great start to the Internet company reporting season with the healthy growth in sales over last year.
Ebay(EBAY) Inc., Google(GOOG), and Amazon.com(AMZN) Inc. are all scheduled to release their figures by next week.
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Posted by: Anonymous | April 2, 2007 1:38 AM | Permalink to Comment