Yhoo's in!
>>Yahoo! Inc. reported net income late Tuesday that beat analysts' estimates and fulfilled investors' hopes by announcing a 2-for-1 stock split.
But as with all things Internet-related these days, the real question may be whether the good news lived up to the fervid hopes of the Santa Clara, Calif., Internet-directory company's true believers. Initial signs were that investors were pleased by the report, as Yahoo's share's moved sharplty higher in after-market trading.
Yahoo's per-share net income beat analysts' estimates by five cents, but only matched "whisper numbers" making the rounds on Wall Street. Meanwhile, analysts said Yahoo's shares had received a boost in recent days from talk that the size of the rumored split might be as big as 5-for-1.
For the fourth quarter ended Dec. 31, Yahoo reported net income of $18.5 million, or 16 cents a share, compared with a net loss of $1.9 million, or two cents a share, in the year-ago quarter.
Both quarters included items. The current quarter included charges of $4.4 million in acquisition-related charges, while the year-ago period included an acquisition-related charge of $3.9 million. Without the charges, profit was $25 million, or 21 cents a share, compared with $1.9 million, or 2 cents a share, a year earlier.
Analysts had expected profit excluding charges of 16 cents a share.
Revenue roughly tripled, rising to $76.4 million from $26.6 million.
Yahoo said that its average page views per day grew to 167 million in December from 144 million in September, and announced its registration base for member services reached more than 35 million unique registrations.
"Our performance exceeded expectations," Yahoo Chief Executive Officer Tim Koogle said of 1998. "We consistently and carefully managed the business, executed our original plan, and invested in growing the company while increasing profits each quarter."
Separately Tuesday, Yahoo named Mr. Koogle chairman and Jeff Mallet president and a board member. Mr. Koogle had been president and will retain his chief executive post, while Mr. Mallet will remain chief operating officer.
The executive positions for Messrs. Koogle and Mallet are newly created, a company spokeswoman said.
Yahoo shareholders of record on Jan. 22 will have new shares issued on Feb. 5.
Yahoo shares fell $13.375 to $402 in trading on the Nasdaq Stock Market Tuesday as profit-taking hit Internet stocks. But once the results were released after the close of regular trading, Yahoo's shares surged, and were quoted at $438.<<Yahoo! Inc. reported net income late Tuesday that beat analysts' estimates and fulfilled investors' hopes by announcing a 2-for-1 stock split.
But as with all things Internet-related these days, the real question may be whether the good news lived up to the fervid hopes of the Santa Clara, Calif., Internet-directory company's true believers. Initial signs were that investors were pleased by the report, as Yahoo's share's moved sharplty higher in after-market trading.
Yahoo's per-share net income beat analysts' estimates by five cents, but only matched "whisper numbers" making the rounds on Wall Street. Meanwhile, analysts said Yahoo's shares had received a boost in recent days from talk that the size of the rumored split might be as big as 5-for-1.
For the fourth quarter ended Dec. 31, Yahoo reported net income of $18.5 million, or 16 cents a share, compared with a net loss of $1.9 million, or two cents a share, in the year-ago quarter.
Both quarters included items. The current quarter included charges of $4.4 million in acquisition-related charges, while the year-ago period included an acquisition-related charge of $3.9 million. Without the charges, profit was $25 million, or 21 cents a share, compared with $1.9 million, or 2 cents a share, a year earlier.
Analysts had expected profit excluding charges of 16 cents a share.
Revenue roughly tripled, rising to $76.4 million from $26.6 million.
Yahoo said that its average page views per day grew to 167 million in December from 144 million in September, and announced its registration base for member services reached more than 35 million unique registrations.
"Our performance exceeded expectations," Yahoo Chief Executive Officer Tim Koogle said of 1998. "We consistently and carefully managed the business, executed our original plan, and invested in growing the company while increasing profits each quarter."
Separately Tuesday, Yahoo named Mr. Koogle chairman and Jeff Mallet president and a board member. Mr. Koogle had been president and will retain his chief executive post, while Mr. Mallet will remain chief operating officer.
The executive positions for Messrs. Koogle and Mallet are newly created, a company spokeswoman said.
Yahoo shareholders of record on Jan. 22 will have new shares issued on Feb. 5.
Yahoo shares fell $13.375 to $402 in trading on the Nasdaq Stock Market Tuesday as profit-taking hit Internet stocks. But once the results were released after the close of regular trading, Yahoo's shares surged, and were quoted at $438. |
