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From the News Desk
Friday, 19. October 2007
Yahoo! Profits in Third Quarter
Yahoo's shares jumped more than seven per cent after the company progressed in the third-quarter results as it works to turn around its Internet advertising business.
The search engine and online-entertainment company turned in a financial performance that was better than many investors and analysts had expected.
In July, CEO Jerry Yang made a 100-day-long effort to reorganise Yahoo, in order to better position the company for competition with Google and others.
Yahoo, the darling of the Web 1.0 companies is currently reviewing its business to move in a focused way to keep pace with its rival Google. Google had a market share of USD 30 billion similar to Yahoo when it started way back in the 1990s. Today Google has a market value of approximately USD 187 billion while Yahoo still stands at USD 30 billion.
The company has made a batch of recent acquisitions. This includes the acquisition of email company Zimbra for USD 350 million. Recently, Yahoo also acquired BlueLithium, a company that specialises in technology used to serve advertisements based on a user's Web surfing history. This is a good indication of Yahoo’s progress with acquisitions.
The company plans to shut down a number of one-off services around the world in the coming months," Yang said, adding that its subscription music service in particular will be "de-emphasiszed."
According to data from ComScore, Google had a 56.5 per cent share of the online search market in the US in August, while Yahoo had a 23.3 per cent share.
Soon Yahoo will release public APIs (application programming interfaces) to developers in line with Microsoft, Google and Facebook who have followed this strategy.
The search engine and online-entertainment company turned in a financial performance that was better than many investors and analysts had expected.
In July, CEO Jerry Yang made a 100-day-long effort to reorganise Yahoo, in order to better position the company for competition with Google and others.
Yahoo, the darling of the Web 1.0 companies is currently reviewing its business to move in a focused way to keep pace with its rival Google. Google had a market share of USD 30 billion similar to Yahoo when it started way back in the 1990s. Today Google has a market value of approximately USD 187 billion while Yahoo still stands at USD 30 billion.
The company has made a batch of recent acquisitions. This includes the acquisition of email company Zimbra for USD 350 million. Recently, Yahoo also acquired BlueLithium, a company that specialises in technology used to serve advertisements based on a user's Web surfing history. This is a good indication of Yahoo’s progress with acquisitions.
The company plans to shut down a number of one-off services around the world in the coming months," Yang said, adding that its subscription music service in particular will be "de-emphasiszed."
According to data from ComScore, Google had a 56.5 per cent share of the online search market in the US in August, while Yahoo had a 23.3 per cent share.
Soon Yahoo will release public APIs (application programming interfaces) to developers in line with Microsoft, Google and Facebook who have followed this strategy.
