Yahoo’s Profit Triples Despite Sales Decline

For much of her tenure as chief executive of Yahoo, Carol Bartz warned investors to expect a steep decline in the company’s business. It has not been as bad as she predicted.Aided by cost-cutting, the sales of some assets and better-than-expected revenue from display ads, Yahoo’s net income more than tripled in the third quarter. The results topped analysts forecasts, and investors sent Yahoo’s shares sharply higher in after-hours trading. see:Yahoo celebrates as profits rise and stability returns after cuts
After three years of faltering financials, the internet company Yahoo declared that its businesses have “stabilised” as deep cost cuts and a strategic overhaul yielded a 244% surge in quarterly profits.Although Yahoo’s revenue slipped by 12% year-on-year to $1.58bn (£964m), the Silicon Valley firm’s profits bounced from $54m to $186m for the three months to September, beating Wall Street forecasts and sending the company’s shares up by 5% in after-hours trading. finally getting out of the woods [AP]
Yahoo may finally be pulling out of a three-year slump that cast aside two CEOs and spurred a cost-cutting spree that led to about 2,000 layoffs.The purge helped Yahoo more than triple its third-quarter profit from last year to top analysts’ relatively low expectations for the troubled internet company. The Sunnyvale-based company also got a $98 million (£59 million) lift from the sale of its stake in China’s

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