Yahoo! Returns to Profit

12 July 2002

Online portal giant Yahoo! is back in the black, having posted its first quarterly profit for well over a year.

Net earnings for the second quarter stood at $21.4 million (€21.6m; £13.8m), up from a shortfall of $48.5m in Q2 2001. The profits follow six consecutive quarters of losses.

Revenues jumped 24% year-on-year to reach $225.8m, at the top end of expectations. Yahoo! expects full-year 2002 revenues to total $900m to $940m.

The company turned a profit despite a 4% fall in its core ad revenues from Q2 last year. Yahoo! benefited from growth at its HotJobs unit and a 15% reduction in costs.

Data sourced from: multiple sources; additional content by WARC staff