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Yahoo Inc today posted quarterly results that beat Wall Street forecasts and gave a more optimistic view for the rest of the year, driving up its shares 10 per cent.
Net profit was slightly lower than in the year-earlier third quarter but revenue far exceeded Wall Street expectations.
Yahoo said third-quarter net profit fell slightly to US$151 million ($206 million), or 11 cents per share, from US$158.5 million, or 11 cents per share, in the year-ago period when the company had significantly more shares outstanding.
Gross revenue rose 12 per cent to US$1.77 billion. Excluding payments to advertising partners, or so-called traffic acquisition costs, revenue rose 14 per cent to US$1.28 billion.
- REUTERS
