Yahoo news release - complete report posted here.
Yahoo! Reports Second Quarter 1999 Financial Results; Company Posts $115 Million in
Revenues and $0.11 Pro Forma EPS
Date:
7 Jul 1999 21:30:42 -0000
From:
"Yahoo Investor Relations" <yahoo@mail5.enlist.com>
To:
wstpac@ix.netcom.com
BW0400 Jul 07, 1999 13:30 PACIFIC 16:30 EASTERN
( BW)(CA-YAHOO!)(YHOO) Yahoo! Reports Second Quarter 1999 Financial
Results; Company Posts $115 Million in Revenues and $0.11 Pro Forma
EPS
Business Editors/High Tech Writers
SANTA CLARA, Calif.--(BUSINESS WIRE)--July 7, 1999--Yahoo! Inc.
(Nasdaq:YHOO) today reported net revenues totaling $115,239,000 for
the second quarter ended June 30, 1999, a 156 percent increase over
net revenues of $44,948,000 reported in the same period in 1998. Pro
forma net income for the quarter was $28,298,000 or $0.11 per share
diluted, excluding merger-related charges incurred in the acquisitions
of GeoCities, Online Anywhere, and Encompass, Inc., and the effects of
amortization of intangible assets. This compares to pro forma net
income of $1,459,000 or $0.01 per share diluted for the same period in
1998, and pro forma net income of $19,900,000 or $0.08 per share
diluted in the first quarter ended March 31, 1999. These financial
results include the recent acquisitions of GeoCities, Online Anywhere,
and Encompass, and do not include the proposed acquisition of
broadcast.com, which is anticipated to close in the third quarter of
1999. Net loss, including the merger-related charges and effects of
amortization of intangible assets for the quarter ended June 30, 1999,
was $15,062,000 or $0.07 per share compared to a net loss of
$14,248,000 or $0.08 per share for the quarter ended June 30, 1998.
"During the second quarter, we expanded our audience, our
extensive global presence, the content and services we offer, the
platforms and devices on which they are delivered, and the marketing
programs we offer our customers," said Tim Koogle, chairman and CEO,
Yahoo!. "The GeoCities, broadcast.com, Online Anywhere, and Encompass
acquisitions support our strategy to further strengthen our leadership
in these areas, delivering the Web's best consumer experience from any
device, any time, while providing merchants and advertisers with
innovative, integrated, and measurable solutions." |
