Yahoo beats analyst estimates - Q1-08
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Yahoo just announced their Q108 financial results. Revenue for the quarter was $1.82 billion compared to $1.67 billion for Q107 - and increase↑ of 9%. Excluding the traffic acquisition costs, revenue for the quarter was $1.35 billion compared to $1.2 - an increase↑ of 14%
GAAP income for the quarter was $542 million. Excluding a one time gain of $401 million due to a stake in Alibaba.com - a leading ecomerce firm in China, non-GAAP income was $150 million or 11 cents a share, same as in Q107.
Yahoo beat analyst expectations by 2 cents. Analysts expected Yahoo to post a net income of 9 cent a share. Yahoo did not revise its outlook for the rest of the year increasing a chances of a Microsoft takeover with no clear visibility of accelerated growth opportunities for the company. Shares were down approximately 1 percent in after hours trading.
