Yahoo Posts 2Q Profit

Communications Today, July 12, 2002

Internet portal Yahoo [YHOO] this week reported a second-quarter profit of $21.4 million, or 3 cents a share, compared with a loss of $48.5 million, or 9 cents a share, in the same period a year ago. The positive showing broke a string of six consecutive quarters where the company had posted a loss. Yahoo said revenues increased 24 percent to $225.8 million from $182.2 million a year ago. The company attributed the revenue boost to its acquisition of HotJobs this past year and a growing base of customers who are paying for listing-based services.

Yahoo raised its full-year revenue estimates to between $900 million and $940 million, with revenue estimates between $225 million and $250 million for the third quarter.

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