yahoo earnings

Yahoo! Delivers Year over Year Growth and GAAP Net Income
Revenue of $226 Million and EBITDA of $36 Million
SUNNYVALE, Calif.--(BUSINESS WIRE)--July 10, 2002--Yahoo! Inc. (Nasdaq:YHOO - News) today reported results for the second quarter ended June 30, 2002. Net revenues for the second quarter totaled $225.8 million, a 24 percent increase over the $182.2 million reported in the same period last year. EBITDA (earnings before interest, taxes, depreciation, amortization and stock compensation expense) was $36.1 million, compared to an EBITDA loss of $38.0 million for the same period last year, which included $45.5 million of restructuring and acquisition-related costs.

Net income on a GAAP (Generally Accepted Accounting Principles) basis for the second quarter of 2002 was $21.4 million or $0.03 per diluted share, compared with a net loss of $48.5 million or $0.09 per diluted share for the same period last year.

Net revenues for the six months ended June 30, 2002 totaled $418.5 million, a 15 percent increase over the $362.4 million reported in the same period last year. EBITDA was $60.5 million, compared with an EBITDA loss of $37.1 million for the same period last year. Income on a GAAP basis, before the cumulative effect of the accounting change for the implementation of Financial Accounting Standard 142, was $31.9 million or $0.05 per diluted share compared to a net loss of $60.0 million or $0.11 per diluted share for the same period last year. The cumulative effect of the accounting change resulted in a one-time goodwill impairment charge of $64.1 million in the first quarter of 2002. Net loss on a GAAP basis for the six months ended June 30, 2002, including this one-time charge, was $32.3 million or $0.05 per diluted share.

"Yahoo! has maintained an intense focus on achieving its strategic goals and executing against its business plan. We are very pleased that our efforts have resulted in both strong top-line and EBITDA growth this quarter despite a tough overall economic environment," said Terry Semel, chairman and chief executive officer, Yahoo! Inc. "As we execute against our business plan, we expect to continue to deliver strong results and profitable growth through the remainder of the year."

im Vorfeld erwarteten Zahlen erreicht, ich denke, das wird dem Dow und auch dem Dax morgen kaum helfen.

"As we complete the first half of 2002, we are pleased with our report card. Yahoo!'s continued evolution to a more robust and sustainable business model is supported by strategic focus and financial discipline. We continue to seek new ways to provide deeper value to our vast consumer base, and we are also attempting to build greater revenue, margins and returns from that core asset," said Susan Decker, chief financial officer, Yahoo! Inc. "As we measure our progress, we will continue to focus on expanding revenues per user and growing revenue per employee, both important metrics which support our key objective to maximize free cash flow."