Yahoo shocks with poor quarterly outlook
The US internet company Yahoo has lowered its business expectations for the current quarter. The markets reacted with shock.
The US internet company Yahoo has lowered its business expectations for the current quarter. The markets reacted with shock.
As reported by SDA, CFO Sue Decker informed an investor conference on Tuesday about "a certain weakness in recent weeks". In particular, advertising in the areas of cars and financial services had fallen sharply. Yahoo expected revenues of 1.12 to 1.23 dollars for the current quarter. Following Decker's comments, the Internet giant's shares came under pressure and lost more than 12 percent of their value by the close of trading. This negative trend also affected competitor Google, whose shares fell by 4 percent.
As reported by SDA, CFO Sue Decker informed an investor conference on Tuesday about "a certain weakness in recent weeks". In particular, advertising in the areas of cars and financial services had fallen sharply. Yahoo expected revenues of 1.12 to 1.23 dollars for the current quarter. Following Decker's comments, the Internet giant's shares came under pressure and lost more than 12 percent of their value by the close of trading. This negative trend also affected competitor Google, whose shares fell by 4 percent.
The current year is not a walk in the park for Yahoo: the company had to lower its high expectations back in July, and even then its shares began to slide. Yahoo wants to earn more money again with ads on pages with search results - Google recently chased market share away from the company, which is why Yahoo entered into a cooperation with the online auction house Ebay.
