Yahoo Forecast, Profit Down; Shares Skid

January 2008
Red Herring;1/29/2008, p2
Trade Publication
This article announces that Yahoo posted a drop in quarterly profit in January 2008 and expects a decline in revenue this year as it tries to shore up its Web advertising business. Its shares dropped almost 11 percent in extended trading. There is a renewed deal between Yahoo and AT&T that analysts expect to generate less revenue this year. Yahoo plans to reduce about 1,000 jobs this year in a bid to produce improved cash flow in 2009. The fourth-quarter profit of Yahoo dropped by more than 23 percent to $205.7 million or 15 cents per share.


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