Internet giant Yahoo!(YHOO Quote) beat analysts' revenue and earnings estimates in its second-quarter results, despite seeing its sales dip 13% compared to the same period last year.
The Sunnyvale, Calif.-based firm posted revenue of $1.57 billion, down from $1.8 billion in the same period last year, but well above analysts' forecast of $1.14 billion.
Yahoo!'s profit, however, grew, and the firm reported earnings of 10 cents a share on net income of $141 million, up from 9 cents a share and $131 million in the prior year's quarter. On a non-GAAP basis, Yahoo! earned 16 cents a share on net income of $229 million, compared to 16 cents a share and $225 million in the same period last year. Analysts had been expecting earnings of 8 cents a share.
"Even in this challenging economic environment, Yahoo! had a solid quarter, reflecting the strength of our offerings for our users and advertisers," said Tim Morse, the Yahoo! CFO, in a statement.
News Source : Yahoo! Beats Despite Revenue Dip
The Sunnyvale, Calif.-based firm posted revenue of $1.57 billion, down from $1.8 billion in the same period last year, but well above analysts' forecast of $1.14 billion.
Yahoo!'s profit, however, grew, and the firm reported earnings of 10 cents a share on net income of $141 million, up from 9 cents a share and $131 million in the prior year's quarter. On a non-GAAP basis, Yahoo! earned 16 cents a share on net income of $229 million, compared to 16 cents a share and $225 million in the same period last year. Analysts had been expecting earnings of 8 cents a share.
"Even in this challenging economic environment, Yahoo! had a solid quarter, reflecting the strength of our offerings for our users and advertisers," said Tim Morse, the Yahoo! CFO, in a statement.
News Source : Yahoo! Beats Despite Revenue Dip
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