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“As economic conditions and on-line advertising softened in the third quarter, we remained highly focused on our 2008 strategy to invest in initiatives that enhance not only our long term competitiveness, but also our ability to deliver for users and advertisers even in this more difficult climate. We have been disciplined about balancing investments with cost management all year, and have now set in motion initiatives to reduce costs and enhance productivity,” said Jerry Yang, co-founder and chief executive officer, Yahoo! Inc. “The steps we are taking this quarter should deliver both near-term benefits to operating cash flow, and substantially enhance the nimbleness and flexibility with which we compete over the long term. We enter this slowing market with competitive advantages as the destination of choice for consumers and as a leader in providing online advertisers with the broadest set of advertising management tools and products in the industry. We plan to continue building on those strengths.”
Yahoo said that its net income for the quarter fell 64 percent, to $54 million, or 4 cents a share, from $151 million, or 11 cents a share, a year earlier. Excluding the cost of stock options and other items, income was $123 million, or 9 cents a share, compared with 11 cents a share a year ago.
No wonder things aren't going well.
Our small no-name company has only 15 employees but we regularly use Yahoo products. From email, to chat to sports pages and stock quotes...yahoo is number one between us all.
Why y'all so negative?
They need people for producing and managing real content
Manage it yes, but the vast majority of their content is syndicated. Not a lot of original content on their site.
Why y'all so negative?
Peasants always enjoy seeing the elite have problems?
Whatever issues Yahoo has they're still the web's most popular portal.
Take a look at where the money was spent and it paints a far clearer picture.
That said, as a shareholder, I can't say I am please that they spent all that cash on the MS deal and still blew it!
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