Yahoo Meets Low Earnings Expectations

The New York Times (Oct 18 2011) Hydro

1. Yahoo Inc lived up to lackluster third-quarter expectations, but the struggling Internet portal was tight-lipped about efforts to find a new Chief Executive or explore a sale. Shares of Yahoo, which fired former CEO Carol Bartz in early September before the end of the third quarter, gained roughly 3 percent to $15.98 in after hours trading on Tuesday. "It looks OK, nothing spectacular, but nothing disastrous, and nothing disastrous is good news for these guys," said Macquarie Research analyst Ben Schachter. Yahoo's profit and revenue slipped year-on-year during the third quarter, as the company saw weakness in sales of its so-called non-premium online display ads, as well as in its search advertising business. (Read Full Article)

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