Yahoo announces loss but beats earnings estimates
by at January 28, 2009 3:28 pm
Sections: Business News, Web, Websites
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They say every cloud has a silver lining. Or is it every corporate bad news has a spin master to make better? Whatever it is, Yahoo announced losses for the fourth quarter of 2008, but they also announced better earnings than estimated.
The total loss for the fourth quarter was $303 million. Yahoo posted $206 million in earnings the same time in 2007, meaning a half billion dollar difference.
After certain restructuring fees and a “goodwill” impairment charge, (goodwill is an intangible that may have value, like a company name) Yahoo’s final report shows earnings of $238 million. Sales where down 2 percent and expected to get worse, though Yahoo refused to make projections due to current economic climate.
New CEO Carol Bartz said, “We have work to do, but I am excited by Yahoo’s opportunities, and encouraged by the tremendous innovation and momentum I’ve seen since joining the company as CEO.”
Read [CNN]
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