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Yahoo! posts better than expected results
Thursday 18th October 2007, by Daniel King
Internet search engine Yahoo! has posted third quarter financial results for 2007 which are ahead of most expectations.
The company revealed a 12 per cent increase in revenues for the three months to September 30th to $1.8 billion (£886 million).
However, additional expenditure from expanding the business meant that profits for the period slipped slightly; down five per cent to $151 million (£74 million). A number of acquisitions in the broadband market have been made by Yahoo! during the last three months, eating into potential profits.
Yahoo! co-founder Jerry Lang said: "Moving forward, we are focused on three big, multi-year objectives: to become the starting point for the most consumers on the internet; to be the 'must buy' for the most advertisers; and to deliver open, industry-leading platforms that attract the most developers."
Later today (Thursday), rival search engine Google will announce its third quarter financial results.
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