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.
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.