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Yahoo beats the Street! (Link to Q4Results - .pdf)
This was an important day for Yahoo as it released 4th quarter financial figures that beat Wall St’s expectations, effectively putting to rest anxiety over their dismal 3rd quarter results.
According to Susan Decker, Yahoo’s page views increased 22% in the period between October 1 and December 31, 2006. She also warned investors that the first quarter of 2007 will be the slowest of the year but said she was “cautiously optimisitic” about Yahoo’s overall performance in 2007.
Revenues were up 13% over the same period in 2005 showing $1.702 billion compared to $1.501 billion last year. Gross profit was also up in the 4th quarter with Yahoo reporting 1.012 billion, a 12% increase over last year’s gross of $906 million. Overall, Yahoo achieved reveues of $6.426 billion in 2006, a 22% increase over 2005’s figure of $5.258 billion.
For Yahoo, showing a profitable quarter to the Street and to wary investors was critical, especially after they lost ground in Q3-2006.