Yahoo Q2 Profit Rises

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Last updated at: (Beijing Time) Thursday, July 10, 2003

Yahoo Q2 Profit Rises

Internet media company Yahoo (YHOO) posted a higher quarterly profit Wednesday, boosted by growing strength in online advertising and its fee-based services, and it raised its guidance for the year.

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Internet media company Yahoo (YHOO) posted a higher quarterly profit Wednesday, boosted by growing strength in online advertising and its fee-based services, and it raised its guidance for the year.

Yahoo reported a net profit of $50.8 million, or 8 cents a share, for the second quarter, compared with a year-earlier profit of $21.4 million, or 3 cents a share. Revenue rose to $321.4 million from $225.8 million a year earlier.

Analysts surveyed by Reuters Research were expecting earnings of 8 cents a share on revenue of $313.3 million.

The company said it now expects revenue of $318 million to $338 million for the third quarter and $1.26 billion to $1.31 billion for the year.

Analysts had expected revenue of $325.5 million for the third quarter and $1.28 billion for the year, according to Reuters Research.

Source: Agencies

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