Yahoo! has reported Q3 pre-tax profits of $151 million (£74.2 million), a decline of 5% year on year, although it said that there are signs of its online advertising business gaining momentum.
The company’s revenue from display advertising grew at nearly 20% in the first three months after almost five quarters of decelerating growth.
Marketing services revenues were $1,544 million for the third quarter of 2007, a 13% increase compared to $1,370 million for the same period of 2006.
Overall, revenues for the three months to September rose by 12% to $1.768 billion against $1.58 billion in the same quarter last year.
Jerry Yang, co-founder and chief executive officer, Yahoo! Inc, said: “Over the past three months, we conducted a thorough review of our business and the marketplace. We’ve made key strategic decisions to invest in and grow our large communities of users, advertisers, and publishers. We’ve also made progress in sharpening our focus and improving our execution.
“Moving forward, we are focused on three big, multi-year objectives: to become the starting point for the most consumers on the Internet; to be the ‘must buy’ for the most advertisers; and to deliver open, industry-leading platforms that attract the most developers. We are executing against our transformation and are excited about playing a leadership role in the large and growing internet market.”
At the start of September, Yahoo! paid £300 billion for global online ad network BlueLithium (see Yahoo! Buys Online Ad Network).
According to comScore Media Metrix, BlueLithium is the fifth largest ad network in the US and second largest in the UK with 145 million unique visitors each month.
Related Links
