Yahoo Jumps Before Earnings Report
Yahoo saw their stock rise on Tuesday in anticipation of their quarterly earnings report late this afternoon. The Sunnyvale, California Internet media company, traded on the NASDAQ, saw its shares climb to $34.76 in morning trades, up about 1.5%.
Yahoo’s been very aggressive in adding to its revenue streams in the last several months, adding companies like Flickr to their fold. Yahoo also announced yesterday an agreement with regional phone carrier Bellsouth for co-branding of Bellsouth’s DSL services.
Industry watchers are expecting Yahoo to earn about 14 cents a share excluding items in the third quarter, up a hefty 51% from last year. Last year, they posted 17 cents a share including a nine-cent increase from the Google stock sales, according to the Wall Street Journal.
Yahoo projected revenues up to $930 million, excluding commissions paid to marketing partners. Last year, Yahoo hit $906.7 million and industry experts are expecting around $918.1 million for the quarter that ended in September.
Yahoo’s primary revenues come from online advertising as it continues to skyrocket. The Interactive Advertising Bureau reported 26% increases in revenues for online advertising during the second quarter. The third quarter is expected to be strong as well
Yahoo will be the first of the big Internet companies to announce their earnings for the third quarter. Despite speculation on Yahoo, the NASDAQ is still down.
John Stith is a staff writer for WebProNews covering technology and business.