Ouch. To add insult to injury, TheStreet.com appointed Yahoo! to the top of its "dumbest things on Wall Street" weekly loser recap.
Yahoo! shares reached a two-year low last week after what TheStreet called a "botched" second quarter earnings call.
Not only were profits so low they were muddy, but Semel & co. left analysts unconvinced they were being forthright about the delay of Yahoo!'s next generation search advertising platform, called Project Panama.
David Utter illustrated that the loss in net-income was an understandable one-time event due to recent necessary expenditures, and that actual total gains were better than for the same time period the previous years.
The delay of Panama until the fourth quarter seemed to be the chief concern. Yahoo!'s new system is intended to help the company better compete with Google.
Investors had expected the launch in the third quarter of this year. COO Dan Rosensweig reportedly "huffed" when pressed to clarify why the company needed to push back the launch.
It was primarily the failure to launch that earned Yahoo! a "Dumb-o-Meter" score of 91, earning the company top spot among other dummies on the list that includes Nortel, and Broadcom.
Add to Del.icio.us | Digg | Yahoo! My Web | Furl
Jason L. Miller is a staff writer for WebProNews covering technology and business.
Yahoo Patent Filing Sheds Light On PageRank Google AdSense Delivered Courtesy Of YahooYahoo Releases Go 3.0 BetaYahoo: Pay No Attention To Site ExplorerYahoo and Microsoft OverlapOfficial Google Response: Microsoft's Bid On Yahoo! "Hostile"Microsoft's Purchase Of Yahoo! An Inevitable Reality?Yahoo Shuts Down 360Yahoo Open or Yahoo Closed?Yahoo Slaps Down Microsoft Offer 
Comments
Post new comment