Yahoo meets earnings expectations

Yahoo has posted revenue of $663.9m for the quarter ending 31 December, up 132% on the same period the previous year.

Yahoo has posted revenue of $663.9m for the quarter ending 31 December, up 132% on the same period the previous year. 

Two achievements - improving its products and services across the board and broadening its advertising platform - boosted Yahoo's financial performance in 2003, said chairman and chief executive officer Terry Semel.

"In 2003 we spent the majority of our investment dollars making our products better," he said. "We were rewarded with more users, who visited more frequently, consumed more pages and used more services."

This, in turn, attracted advertisers. "These consumer relationships are key to building a powerful and high-impact advertising environment," Semel said,.

Yahoo ended 2003 with about 263 million unique users, up 23% from the end of 2002. More than half were active registered users, defined as those who register with Yahoo for services such as e-mail or its community groups.

Registered users consume twice as many services and stay four times longer on the Yahoo network, making them good prospects for becoming subscribers to a fee-based Yahoo service, such as DSL Internet access, small-business services, premium mail service and personal ads.

Yahoo ended 2003 with almost five million unique paying users, up 122% over the end of 2002. This is the fastest growing subset of users on the Yahoo network, Semel said.

Net income for the quarter came in at $75m.

Full-year revenue was $1.62bn, up 71% on 2002. Full-year net income came in at $237.9m.

Juan Carlos Perez writes for IDG News Service

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