Yahoo Announces a 4th Quarter Loss
It has just been announced that for the last 3 months of 2008 Yahoo made a LOSS of £215million ($303m), which can be compared to a profit of £144million ($205m) in the same period in 2007.
This comes at a bad time for Yahoo, after the rejection of the £33billion takeover offer from Microsoft, and the resignation of Jerry Yang to be replaced with Carol Bartz.
As the news of the loss makes you wonder how stable Yahoo is, they are putting the 3 month loss down to investments that had to be made to make sure they can continue, as well as the cost of making 1500 people redundant. It will be interesting to see what figures come out after the 1st quarter of 2009, or will Microsoft have second thoughts and go in again with a lower bid this time?
Overall Yahoo’s revenue has fallen by 1% to £1.273 billion, whereas Google’s revenue has risen 18%. As a whole in 2008 Yahoo’s net profit was £299million compared to £465million the previous year.