Yahoo 3rd-Quarter Results Posted

Published by: Kelly Curtis on 20th Oct 2010 | View all blogs by Kelly Curtis

Yahoo 3rd-Quarter Results Posted

Yahoo announced third-quarter results on Wednesday, announcing tepid revenue growth for the quarter and also forecast weaker sales for the fourth quarter as the company continues to lose market share to its rivals, mainly Google.

The company reported earnings for the period at $396 million, or 29 cents per share, compared to earnings of 13 cents per share in the third quarter of 2009.  Revenue for the internet search company, excluding traffic-acquisition costs,  was reported as $1.12 billion, just down from the $1.13 billion reported for the same period last year.

Traffic-acquisition costs, or TAC, includes funds paid by websites to advertisers and money they spend to draw traffic.  Analysts commonly factor TAC in when forecasting earnings.  The analysts who participated in a recent Thomson Reuters survey had forecast, on average, Yahoo profits of 13 cents per share on overall sales of $1.13 billion.

The second largest internet search engine behind Google, Yahoo projected fourth-quarter revenue, excluding TAC, between $1.125 billion and $1.225 billion.  Analysts had forecast revenue of $1.26 billion for the company in the year's last three months.

After posting gains early in the day on Tuesday, Yahoo shares moved lower at the close of Tuesday's session.  Shares of the company have risen more than 6 percent since last week when reports surfaced that a number of private equity firms were looking into purchasing the company. 

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