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Yahoo! is beginning to realize the benefits of the very substantial and deliberate long-term investments we’ve made to capitalize on the opportunities ahead in display and to recapture momentum in search,” said Jerry Yang, co-founder and chief executive officer, Yahoo! Inc.
Reports 9% revenue increase over same period last year, and 11% increase in gross profits.
CORRECTED: Yahoo adjusted profit tops Wall St. average
SAN FRANCISCO (Reuters) - Yahoo Inc (YHOO.O) on Tuesday posted quarterly profit, excluding one-time items, at the top end of Wall Street's range of lowered forecasts, as it sought to bolster its case that Microsoft Corp's (MSFT.O) takeover bid undervalues it.
Buoyed by a large gain on a stake in China's Alibaba.com Ltd (1688.HK), Yahoo's first-quarter net income rose to $542.2 million, or 37 cents per diluted share, compared with the year-ago quarter's $142.4 million, or 10 cents per diluted share....
Not only does Yahoo! have a unique franchise, it increasingly has industry-leading tools, technology and, most importantly, people.
Yahoo has been quietly shutting down their industry-lagging tools like Yahoo 360 and Yahoo Music JukeBox, as well as shuttering and consolidating other parts of their portal network while their new women's portal Shine, a content aggregator (a term also used for scrapers), resembles an effort to "look busy" rather than an actual attempt to create something useful, interesting, and worth visiting. As for the important people Jerry lauds and pats on the back, is he also including the ones he just laid off?
The NYTimes has a thought provoking piece entitled, Yahoo Toots Its Horn as It Falls Further Behind [bits.blogs.nytimes.com] where it notes: