Financial Report Financial reports from the largest companies of the world

Yahoo reported 26% profit decrease in Q3 2011

Yahoo reported third-quarter profit of 23 cents per share (taking into account the potential effect of dilution), which exceeded analysts' expectations for earnings of 17 cents. The results go against the whole range of fundamental strategic decisions facing the company. However, Yahoo's earnings diluted share decreased by 21% compared with same period last year when it reached 29 cents. The net profit for the period fell 26% to 293 million USD from 396 million a year earlier. The company's revenues without the cost of acquiring traffic reached 1.07 billion USD and match analysts forecast a decline of 5% annually - the same as in the second quarter. Yahoo attributed the decline to deal with Microsoft. The company's revenues, according to state accounting rules (GAAP) decreased by 24% to 1.217 billion USD from 1.6 billion USD an year ago. After the announcement of the results of Yahoo shares rose 3.3 percent, although the financial results coincided completely with the expectations of investors. The Yahoo's profits, however, can not compensate for the lack of clarity about the future of the company that is experiencing a heavy period after the dismissal of Carol Bartts from the post of CEO in September. Currently the company is in search of a successor. There are still rumors that Microsoft will try to acquire a concern. The software giant has already proposed some years ago 47.5 billion USD for search engine operators, but then the offer was rejected.