Internet giant's profits surge

Internet company Yahoo has registered a significant rise in fourth-quarter profits, up from $46.4 million a year ago to $75 million.

    Yahoo has grown to be a household name

    The company said on Wednesday the profit amounted to 11 cents a share. Revenues jumped 132% from a year ago as Yahoo drew more receipts from fees and paid search advertising.

    "Yahoo's fourth quarter performance completes a year of phenomenal growth of our company, and represents the most successful quarter in the history of Yahoo," the company chairman and chief executive Terry Semel said.

    Success story

    "As we made across-the-board improvements in our business, we were rewarded with deeper and more profitable relationships with our customers.

    "We believe the key to Yahoo's long-term growth continues to be building and improving products and services essential to our customers' lives," he said.

    For the full year 2003, Yahoo's net profit surged 455% from a year earlier to $237.88 million while revenues grew 70% to $1.62 billion.

    SOURCE: Agencies


    YOU MIGHT ALSO LIKE

    Double standards: 'Why aren't we all with Somalia?'

    Double standards: 'Why aren't we all with Somalia?'

    More than 300 people died in Somalia but some are asking why there was less news coverage and sympathy on social media.

    How Moscow lost Riyadh in 1938

    How Moscow lost Riyadh in 1938

    Russian-Saudi relations could be very different today, if Stalin hadn't killed the Soviet ambassador to Saudi Arabia.

    Kobe Steel: A scandal made in Japan

    Kobe Steel: A scandal made in Japan

    Japan's third-largest steelmaker has admitted it faked data on parts used in cars, planes and trains.