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Reuters

Yahoo Posts Higher Net, Raises Guidance
<<guidance range lower by -1.5% to +2.3% higher>>

Wednesday July 9, 4:45 pm ET


LOS ANGELES (Reuters) - Internet media company Yahoo Inc. (NasdaqNM:YHOO - News) posted a higher quarterly profit on 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 per share, for the second quarter, compared with a year-earlier profit of $21.4 million, or 3 cents per 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 per 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.

Yahoo shares closed at $35.29, up 19 cents, on Nasdaq, before falling to $34.15 in after-hours trade as the news was released.

http://biz.yahoo.com/rb/030709/media_yahoo_earns_3.html