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80,259 News Articles

Yahoo reports Q4 profit

But lowers 2001 expectations

Yahoo has released earnings for its 2000 fourth quarter that were in line with forecasts, although the company issued revised earnings projections for 2001 that were below analysts' expectations.

The news hit Yahoo's share price hard in the after hours markets, dragging it down by as much as 18 percent.

The company blamed the bad news in part on current economic conditions and an expectation of slower advertising revenues.

Net revenue for 2000 as a whole came to £737 million, an 88 percent increase over net revenues of for 1999, the company said.

Yahoo said it expects revenue for fiscal 2001 to be between £800 million and £870 million, with marketing services and commerce to account for 80 percent to 85 percent of that figure.


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