Yahoo Flying High After Earnings Report
Yahoo released an awesome third quarter earnings report on Tuesday afternoon and investors took it to heart. Yahoo stock shot up to $35.88 a share, up $2.18 or 6.47% and down from the day’s high of $35.94.
The big kick came from the phenomenal earnings report yesterday, which showed Yahoo enjoyed a 47% jump in revenues. This all comes from driving force known as online advertising.
Yahoo expects a big fourth quarter as well, looking for $1.03 billion to $1.08 billion. That would be a $785 million increase from the same time last year. This also leaves Yahoo in a strong position to grow.
Wendy Davis of MediaPost quoted a note from Lauren Rich Fine, a Merrill Lynch analyst, saying, “While Google has a higher share of search queries and revenues, Yahoo! has much better user engagement that is being monetized through branded and fee revenues.”
Tomorrow will tell the tale however. Google is slated to release their earnings tomorrow. Google’s growth has been unbelievable in the 14 months since the search engine company went public. Google’s stock climbed $5.42, up 1.79% to $308.70 in anticipation of a strong earnings report tomorrow.
Google also dumped over 14 million share of stock a few weeks ago. This will also reflect some changes in Google’s earnings. Right now, other companies like Yahoo offer more services and people are there longer, Google seems to dominate search in a way no one else can get at this time.
John Stith is a staff writer for WebProNews covering technology and business.