Yahoo! has reported revenues of $1.58 billion for the third quarter ended September 30, 2009, a decrease of 12% compared to $1.79 bilion in the third quarter of 2008. The operating income for the quarter was $91m, a growth of 30% compared to $70m in the same quarter of the prior year.
The company reported net income of $186m for the third quarter of 2009, an increase of 244% compared to $54m in the third quarter of 2008. Net income per diluted share for the quarter was $0.13 compared to $0.04 for the year ago quarter.
Carol Bartz, chief executive officer of Yahoo!, said: “With revenue coming in above our guidance and flat sequentially, we had a solid third quarter that signals our major businesses have stabilised. With new products like Yahoo! homepage, our brand revitalisation campaign and expansion in the Middle East through Maktoob.com, our execution is improving and we’re focused on what we do best — being the center of people’s online lives.”
The company said that it expects revenue for the fourth quarter of 2009 to be in the range of $1.6 billion to $1.7 billion. Operating income for the fourth quarter of 2009 is expected to be in the range of $135m to $155m.
Tim Morse, chief financial officer of Yahoo!, said: “In the third quarter we saw strength in key areas of our business. Our efforts to reposition Yahoo! are still in the early stages, but we’re confident that our investments in the business will enable us to capitalise on growth opportunities as the economy recovers.”
