Yahoo! beats the Street Web portal's 2Q net income almost triples as revenue doubles July 11, 2000: 4:46 p.m. ET
NEW YORK (CNNfn) - The Web portal and Internet bellwether Yahoo! Inc. reported second-quarter earnings that beat analyst expectations, as its revenue more than doubled and traffic on its network of sites continued to grow strongly.
The Santa Clara, Calif.-based company said its second-quarter earnings, before one-time items, totaled $74 million, or 12 cents per diluted share, compared with $27 million, or 5 cents, in the year-ago quarter. Analysts surveyed by earnings tracker First Call had expected the company to earn 10 cents per share.
Yahoo! (YHOO: Research, Estimates) said that its second-quarter revenue rose 110 percent to $270.12 million from $128.57 million in the same period last year. Traffic on the company's Web sites averaged 680 million page views per day in June, up from an average of 465 million per day in December and 625 million in March. During June, Yahoo!'s global audience grew to more than 156 million unique users from 120 million in December 1999.
Yahoo! stock closed down 4-1/2 at 105-1/2 before the earnings were released Tuesday.
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