Building on its first quarter success [WAMN: 08-Apr-04], online search engine giant Yahoo! reported healthy Q2 profits boosted by soaring advertising sales.
The net profits of $113 million (€91.5m; £61m), up from $51m for the same period last year, reflect a "continued execution of our core priorities" to introduce new products and services according to chairman/ceo Terry Semel.
Last year's purchase of online advertising business Overture Services Web has proved fruitful, adding to the 215% surge in revenue of $691m at the core marketing services unit.
Hints of future success came in April when Yahoo! upped its 2004 sales forecast (prior to distribution costs) from $2.4bn to $2.5bn.
Share prices followed suit – climbing from $25 to $36 over the last three months, although low expectations for third quarter profits caused them to dip by eleven per cent on Wednesday evening.
Data sourced from: Times Online (UK); additional content by WARC staff