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Yahoo results inspire mixed reactions
Thursday, July 12 2001
by Mary O'Neill


Yahoo has announced its Q2 results for 2001, recording losses but beating some
analysts' expectations.

The company reported net losses of over USD45 million or USD.09 per share diluted
for the second quarter ending 30 June 2001. The results have caused mixed media
reaction in so far as they beat analysts' expectations by at least USD.01, but
the Wall Street Journal has described the losses for the company as "hefty,"
and that it does not expect conditions to improve in the next year.



Net revenues totaled USD182 million, compared to net revenues of almost USD273
million for the second quarter of 2000. Pro-forma net income for the quarter was
USD8.7 million or USD0.01 per share diluted. This compares to pro-forma net
income of USD69 million or USD0.11 per share diluted for the comparable period in
2000.



The results announced by Yahoo on Wednesday, in conjunction with the Q2 results
announced by Motorola and a positive announcement from Microsoft, drove the
NASDAQ up 0.47 percent, or 9.25 points, to finish at 1972.04 with a number of
tech stocks rising on the news. Additionally, in early trading across Europe tech
stocks opened on the rise in most markets, generally led by technology shares.



Although Motorola posted a second consecutive Q2 loss of USD759 million, or
USD0.35 cents a share, compared with net income of USD204 million, or USD0.09 a
share, in the year-earlier period, results still came in at least USD0.01 per
share above expectations.



Microsoft said it would allow PC makers to remove access to Microsoft's Internet
browser, ending its plan to limit existing on-line links to competitors.
Separately the company also announced that revenue for its fiscal fourth quarter
would come in above Wall Street's expectations.



"There is no single event that will transform this company," Terry Semel,
chairman and chief executive officer of Yahoo said. "Rather, it will be a
series of events starting this quarter that will demonstrate Yahoo's momentum and
progress. In order to strengthen and grow the business, we will pursue
partnerships and joint ventures with major corporations, make acquisitions, and
continue to innovate."



Yahoo closed at USD17.03 in New York on Tuesday, down 4.49 percent.