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Overture 4thQ--Revenues Up 97%, Profits Down

     
11:57 pm on Feb 6, 2003 (gmt 0)

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Details here [cbs.marketwatch.com]
"...its fourth-quarter net profit fell from the year earlier as a 97 percent increase in revenues was offset by higher expenses and a charge related to settling a legal dispute."

and


Here (full news release)
[corporate-ir.net]

You can also listen to the conference call. [corporate-ir.net]

12:26 am on Feb 7, 2003 (gmt 0)

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That explains the rumor about the raised prices on the bottom from 5 cents to 10 cents, then.

Thanks for posting the news release links - must read those later when I have a minute.

3:17 am on Feb 7, 2003 (gmt 0)

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This is my favorite part:

Overture said advertisers paid the company an average of 35 cents for each paid introduction made during the quarter, up from 23 cents in the year-ago period.

CPC goes up over 50% in a year and they still plan to double the minimum. {headshake}

8:31 am on Feb 7, 2003 (gmt 0)

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I expect that it is Yahoo & MSN who are pushing for the min bid to increase.

Tor

12:06 pm on Feb 7, 2003 (gmt 0)

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I expect that it is Yahoo & MSN who are pushing for the min bid to increase.

I think you may be correct about that assumtion sem4you. There is a big potential for increased earnings for Overture and their partners just by making this increase in the minimum bid price. We will surely see some of the effects already in their 1. quarter 2003 figures.

1:42 pm on Feb 7, 2003 (gmt 0)

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But they aren't making any profit so i wonder how much they are losing.
This was one of the most interesting rows:

Accumulated deficit (408,716) (481,863)
[EDIT]If i understand it correct that's minus 408$ Million!

[edited by: lazerzubb at 2:26 pm (utc) on Feb. 7, 2003]

1:50 pm on Feb 7, 2003 (gmt 0)

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I like the loss on litigation ruling! Who was this with?
2:22 pm on Feb 7, 2003 (gmt 0)

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Internet Fuel $8.7 million [internetnews.com]
12:38 am on Feb 8, 2003 (gmt 0)

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lazerzubb

Accumulated deficit means that Overture, since the start as Goto.com, has lost 408 million US dollars. If I read the report right Overture made a 2002 profit (net income) of 73 million.

Best regards,

Henrik