Online giant Yahoo! has posted a large rise in profits and revenues for the fourth quarter as its ad business flourished.
The group reported a 62% leap in net earnings to $75 million (€59m; £41m). Revenues jumped 79% to a higher-than-expected $511.3m, and stood at $663.9m if income from revenue-sharing deals with other companies is included.
Marketing services, the group's biggest cash contributor, saw turnover jump 178% to $545.5m, in part reflecting October's purchase of internet search advertising firm Overture. Revenues from paid-for premium services increased 37% to $85.2m.
Looking ahead, Yahoo! expects marketing turnover to grow by 25% to 30% in 2004, ahead of the 20% increase forecast for the online ad market as a whole. The group also believes its unique paying subscriber base will rise from 5m at the end of last year to 7m in twelve months' time.
Data sourced from: The Washington Post Online; additional content by WARC staff