No Big Surprise As Yahoo Profits Fall

By Digital Trends Staff July 22, 2008

Reuters has reported that Yahoo’s profits for the quarter ending in June have fallen by 19%, and the news came as no real shock to anyone. After all, the company’s rebuffed advances from Microsoft, cozied up to Google and been forced to deal with an angry large investor in that time.

However, in spite of all that, and a worsening economy, Chief Financial Office Blake Jorgensen didn’t downgrade estimates for the rest of the year. And Yahoo boss Jerry Yang was blunt about future plans in a conference call. He said:

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"We have looked at just about every alternative you could imagine as far as looking at how do we best position the company to go forward either through transactions and/or financial options."

The company’s income for the quarter was $131 million, down from $161 million in the same period of 2007. It’s forecast third-quarter revenue of $1.78 billion to $1.98 billion and 2008 revenue of $7.35 billion to $7.85 billion.

Digital Trends Staff

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