Yahoo results better than expected
19th Oct 2011 | 11:41
Life! in! the! old! dog! yet?
Despite the doom-sayers, Yahoo's latest financial results have lifted the mood in the company by not being quite as bad as the analysts predicted.
However, earnings per share were up 32 per cent year-on-year, although revenue was down 5 per cent to $1.072 billion and income down 6 per cent to $177 million.
That gave Yahoo's shares a boost on the markets, and presumably a nice boost to morale in the company as well.
Yahoo parted company with Carole Bartz recently – the chief executive brought in after Jerry Yang was pushed out following the rejection of a massive takeover bid from Microsoft.
Unsurprisingly, Microsoft's Steve Ballmer has recently admitted that the company was lucky that a $47 billion bid had been turned down, to the anger of Yahoo's shareholders.