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To: Bill Harmond who wrote (79889)	10/6/1999 7:26:00 PM
From: re3	Respond to of 164684

whatever have a pleasant tomorrow

To: Bill Harmond who wrote (79889)	10/6/1999 8:15:00 PM
From: Eric Wells	Read Replies (2) \| Respond to of 164684

A different view of Yahoo's earnings: On a pro forma basis Yahoo made $40 million in income for the quarter. However, if you throw in the non-recurring charges (which always seem to recur), Yahoo made only $14.8 million after taxes. Of this $14.8 million, roughly $4.5 million was investment income (from all the cash they have). So Yahoo really made $10 million for the quarter from their operations. If you look at the 9 months ending Sept. 30, 1999, the numbers become more interesting. On a pro forma basis, the company made $85 million. However, if you include the non-recurring charges, the company made $16.39 million after tax. Of that $16.39 million, approx $15 million was investment income. That leaves $1.4 million that Yahoo has made during the past 9 months in doing what it is that Yahoo does. Of course, I know that I'm looking at the numbers in the wrong way - that I should focus on the Pro Forma numbers, and I should look at growth. I guess I'm just too used to doing the numbers for my own private company - where I'm unable to get rid of those non-recurring charges (maybe I need a new accountant). -Eric