Yahoo’s story is not over yet. The one time Internet dominant player is coming back under the leadership of CEO Carol Bartz, which is seen in strong Q4 2009 result.
“Things seem to be returning to a more normal state in the online advertising business,” Bartz told analysts in a Tuesday conference call.
Yahoo earned $153 million, or 11 cents per share, during the final three months of 2009, rebounding from a loss of $303 million, or 22 cents per share, in the prior year. Yahoo shares climbed 60 cents, or 3.8 percent, in Tuesday’s extended trading. Before the results came out, the stock finished the regular session at $15.99, up 13 cents, reports Associated Press.
Revenue slipped 4 percent to $1.73 billion. In contrast, Google’s fourth-quarter revenue surged 17 percent. Yahoo still did better than the first nine months of 2009, when the company’s revenue dropped 12 percent.
In a sign of Yahoo’s growing confidence, the company added 700 workers to its payroll in the fourth quarter to end December with 13,900 employees. That’s still down from Yahoo’s recent peak employment of 15,200 workers in September 2008. Yahoo has added significant number in India, and is following the trend set by Google and Microsoft.
Yahoo India is pushing not only the back-end operations and customer service tasks in India, but also the high end innovation works. It is hiring the best talent from the industry beating Microsoft in the fresher’s package offered in Engineering Schools in India.
Yahoo also intends to buy other companies this year, Bartz said, setting her sights mostly on small deals that improve the company’s technology and bring in more compelling content to its Web site. This is inline with Carol more focus on generating content in the Web and transforming Yahoo to Content site.
Yahoo took over Middle East’s News Content leader Maktoob in 2009.
“We are done looking inward,” Bartz told analysts. “We are looking outward at the incredible opportunities ahead.”
For all of 2009, Yahoo earned $598 million, or 42 cents per share, on revenue of $6.46 billion. That compared with income of $419 million, or 29 cents per share, on revenue of $7.21 billion in 2008.
We have been swayed by the innovation and new initiatives of Google and Apple, and often forget to talk about Yahoo. The fact, however, lies strong with the company. It has many World leading products even today like Yahoo News, Flickr, Yahoo Mail, Yahoo Messenger and Yahoo Finance.
These are some services I use daily, and Yahoo News revamp has won my heart by the company. It is one of the best News Mash up sites available today.
Img Source: businessweek.com