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[Yahoo] Profits Jump.Expects Good 4th Quarter

Yahoo Inc. (NASDAQ:YHOO) has reported a big jump in its profits for the quarter ending September 30th. Company’s profits were at $186.09 million. In terms of Revenue, the company brought in $1,575.39 million.

During the previous quarter, Yahoo implemented several cost cutting strategies, which also included a series of layoffs. Layoffs reduced the payroll count of Yahoo from 15,200 in September 2008 to 13,200 at the end of the quarter.

In terms of net income and earnings per share, Yahoo has reported $0.13 against a forecast $0.07. For Q4, Yahoo has forecasted $1.6 to $1.7 billion in revenue.

Definitely, a good set of numbers from Yahoo clearly revealing that its strategy has paid off. Even the market has liked it and the stock is up 5% after trade hours.

Yahoo-profits-jump-stock-up

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This entry was posted on Wednesday, October 21st, 2009 at 8:57 am and is filed under News, Yahoo. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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