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Yahoo! posted fourth-quarter profits yesterday that were down more than 60 per cent from a year ago, on higher employee stock options costs and lower investment gains, but still handily beat Wall Street forecasts.
Chief executive Terry Semel said on a conference call with analysts: "We ended the year on a strong note with solid growth in revenues and operation cash flow, strong profitability and healthy growth in users and user activities."
Yahoo! Q4 Profits Fatter Than Expected [networks.silicon.com]