Yahoo Misses Analyst Estimates
July 21, 2009 by Mark Ellis
Filed under Business
Search engine giant Yahoo! Inc. has released third-quarter results that show that the company has not managed to exceed analyst expectations. Yahoo blames its underperformance on a general slowdown in advertisement spending on its websites, cutting into its revenue and resulting in a 3.9 percent fall in the value of its stocks.
While analyst expectations had Yahoo taking in about $1.56 billion in revenue for this quarter, Yahoo actually projects a $1.45 to $1.55 billion revenue intake. A reduction in online ad spending and stiff competition from Google do not bode well for Yahoo’s future, creating the possibility for even slower …read more
