| July
11 —
Internet bellwether Yahoo! reported second-quarter earnings of 12
cents a share Tuesday, topping analysts’ average expectations of 10
cents.
YAHOO
SAID net revenues totaled $270.116 million for the second quarter ended
June 30, compared to net revenues of $128.569 million for the second
quarter in the year-ago period.
Pro forma net income for the
quarter was $73.992 million, or 12 cents per share diluted, excluding
acquisition-related charges and employer payroll taxes on gains realized
by employees from non-qualified stock option exercises. This compares to
pro forma net income of $27.060 million, 5 cents per share diluted for
the comparable period in the previous year.
Including acquisition-related
charges and employer payroll taxes on non-qualified options, net income
for the second quarter ended June 30 was $65.459 million, or 11 cents
per share diluted, compared to a net loss for the quarter ended June 30,
1999, of $263,000, or zero per share diluted.
“This
quarter’s better-than-expected financial results underscore the
strength of our global franchise business,” said Tim Koogle, chairman
and CEO of Yahoo! “The unrivaled global distribution platform we have
built for advertisers, merchants, content and service providers along
with the diversified set of revenue streams we have created, positions
us well to continue our leadership in the future. We will continue to
focus on key growth areas to maximize the inherent leverage and scale in
our business to deliver the best services available on the Web.”
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Yahoo was again the world’s leading global, branded Web
network with more than 156 million unique users worldwide during
June, including 20 million in Japan. Yahoo’s cumulative
registrations for member services grew to a record 155 million, up
from 125 million in March. As a result, the Yahoo network reached
64.5 percent of the combined U.S. home/work audience (Media Metrix,
May 2000), and is ranked No. 1 among the top five Web sites in
average combined time spent by home and work users, which was 95
minutes in June according to Nielsen NetRatings. Yahoo also
emerged as the No. 1 Web network in Europe and Japan.
Yahoo’s traffic increased
to 680 million page views per day on average during June, compared
to an average of 625 million page views per day in March 2000.
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