By Will Sturgeon, 11 October 2002 12:35
NEWS Yahoo! has reported a profit of $28.9m for its third quarter - compared to a $24.1m loss during the same period last year. The portal also reported a sharp increase in sales - with revenues up 50 per cent. While acquisitions of profitable services, such as the purchase of Hot Jobs, helped boost its figures, Yahoo! claims its advertising revenues have also contributed to the positive results. In the past year Yahoo! has restructured a number of its revenue streams - testing paid-for services as well as more targeted advertising campaigns (see http://www.silicon.com/a55739 for more). A partnership with online ad firm Overture has also reaped dividends. At the close of play, Yahoo! shares in New York were up 47 cents at $9.98 per share. Following the after-the-bell announcement, its shares were selling for around $10.15 in after-hours trading.
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