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Yahoo announced their first quarter earnings for 2009 and it was pretty bad. Here are the highlights:
Yahoo! Inc. today reported revenues of $1,580 million for the quarter ended March 31, 2009, a decrease of 13 percent from the first quarter of 2008. Excluding the impact of currency rate fluctuations, revenues for the first quarter of 2009 would have declined 8 percent from the first quarter of 2008. The Company’s non-GAAP operating cash flow for the first quarter of 2009 of $409 million exceeded the midpoint of the outlook range provided by the Company last quarter.
Plus, Yahoo will be cutting 5% of the staff, that is an additional 600-700 employees from the layoffs they had earlier this year and last year. Sounds like Yahoo is bleeding to me.
But the thing is, Yahoo beat Wall Street Estimates and the stock is up a bit in pre-market conditions.
In any event, you can read more about this at Search Engine Land or on Techmeme.
Forum discussion at WebmasterWorld.
