Wednesday, July 23, 2008

Yahoo’s Revenue Rises a Bit, but Profit Falls 18% - NYTimes.com

Timing is everything...

With the slowing economy taking a toll on the online advertising business, Yahoo said Tuesday that its net income dropped by nearly 19 percent in the second quarter from a year ago as revenue grew at a sluggish 6 percent rate.

Analysts said the results would do little to improve Yahoo’s negotiating position with Microsoft, which has tried to buy all or part of the company. “This is not a quarter where they can go back to Microsoft and say they deserve a higher price,” said Youssef H. Squali, an analyst with Jefferies & Company. “And Microsoft can’t come to them and say the business is falling out of bed and we can pick you up for a song.”

Yahoo’s Revenue Rises a Bit, but Profit Falls 18% - NYTimes.com

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