Yahoo in the red due to restructuring
Yahoo was in the red at the end of 2008 due to the restructuring of the Group and write-downs on its international business. The bottom line for the final quarter was a loss of 303 million dollars after a plus of 206 million dollars a year earlier. Turnover fell by one percent to 1.8 billion dollars.
Yahoo was in the red at the end of 2008 due to the restructuring of the Group and write-downs on its international business. The bottom line for the final quarter was a loss of 303 million dollars after a plus of 206 million dollars a year earlier. Turnover fell by one percent to 1.8 billion dollars.
Yahoo CEO Carol Bartz, who has only been in office for two weeks, said on Tuesday evening after the close of the US stock exchange that the company has some work ahead of it. However, she was confident. Yahoo recently cut around ten percent of its jobs and continued to lose ground to its competitor Google in the online search advertising business. In 2008 as a whole, profits fell by more than a third to 424 million dollars. Turnover grew by three percent to 7.2 billion dollars, as Yahoo announced on Tuesday at the company headquarters in Sunnyvale, California.
Yahoo's profit adjusted for special effects amounted to 238 million dollars in the final quarter. It exceeded analysts' expectations, while turnover fell slightly short of them. The share price was up in an initial after-hours reaction. They had already gained 1.5 percent to 11.34 dollars during the course of the day.
For the current quarter, Yahoo expects sales of between 1.53 and 1.73 billion dollars. Operating profit is expected to be between 75 and 85 million dollars, well below experts' expectations.
Yahoo CEO Carol Bartz, who has only been in office for two weeks, said on Tuesday evening after the close of the US stock exchange that the company has some work ahead of it. However, she was confident. Yahoo recently cut around ten percent of its jobs and continued to lose ground to its competitor Google in the online search advertising business. In 2008 as a whole, profits fell by more than a third to 424 million dollars. Turnover grew by three percent to 7.2 billion dollars, as Yahoo announced on Tuesday at the company headquarters in Sunnyvale, California.
Yahoo's profit adjusted for special effects amounted to 238 million dollars in the final quarter. It exceeded analysts' expectations, while turnover fell slightly short of them. The share price was up in an initial after-hours reaction. They had already gained 1.5 percent to 11.34 dollars during the course of the day.
For the current quarter, Yahoo expects sales of between 1.53 and 1.73 billion dollars. Operating profit is expected to be between 75 and 85 million dollars, well below experts' expectations.
