Yahoo’s quarterly results are out. Once again, the company’s revenues have fallen short of popular estimates. The Sunnyvale-based internet giant reported revenues of $1.60 billion for the quarter ending June 30. This is on the back of a $1.60-$1.68 billion revenue estimates. The net revenue that is obtained after subtracting the commission paid to partners was $1.13 billion that is 30 million short of predictions.
However, this does not in any way imply that the company did not do well this quarter. Yahoo’s profits are up and are better than what the analysts predicted. The net income for the quarter was $213 million that is 51% more than income earned last quarter. Yahoo (NASDAQ:YHOO) CEO Carol Bartz is said to be happy with the “healthy” growth that her company has been facing.
Yahoo stocks are however showing signs of fall. The pre-market value is presently hovering around 14.21 which is a 6.51% drop from yesterday’s closing of 15.20.