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article imageYahoo reports a Fourth Quarter Loss

By Naved Akhtar     Jan 29, 2009 in Business
Yahoo posted a loss for the final quarter of 2008 as the economic downturn hit its advertising revenue. Yahoo reported a net loss of $303 million compared to a profit of $206 million a year ago.
The loss reported is better than expectations with many analysts predicting much worse following Yahoo’s recent restructuring efforts and job losses. The fourth quarter put a close to Yahoo co-founder Jerry Yang’s fruitless 18 months as chief executive. Carol Bartz took over last week from Mr Yang in Yahoos latest attempt to turn things around.
The New York Times reported that on Tuesday Ms Bartz told analysts:
“It is my job to make sure that as a company we look at anything that makes sense long term for the company and creates shareholder value.” She went on to say:
“So yes, everything is on the table. This is not a company that needs to be pulled apart and left for the chickens.”
Overall for 2008, Yahoo earned $424m compared to an income of $660m in 2007. Yahoo performance for 2008 was not as impressive as market leader, Google, who earlier this month reported net revenues of $4.2 billion for 2008.
Yahoo has given a cautious outlook for the beginning of 2009 and has indicated its first quarter revenue would fall 5 to 16 percent. They have not provided any forecasts for the full year stating that the recession made it to difficult to predict demand from advertisers.
More about Yahoo, Fourth quarter, Loss, Google, Carol Bartz
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