Yahoo exceeds Q3 expectations

Web portal Yahoo topped Wall Street's earnings and revenue expectations for its third quarter, ended Sept. 30, 2003.

The Sunnyvale, California company posted net revenue of US$356.8 million and net income of $65.3 million, or $0.10 per share, it said in a statement Wednesday. Consensus expectations from analysts polled by Thomson First Call were for revenue of $337 million and earnings of $0.09 per share.

Compared with 2002's third quarter, net revenue grew 43 percent, while net income more than doubled from $28.9 million. The company had earnings per share of $0.05 in last year's third quarter.

Yahoo's shares (YHOO) closed down 0.36 percent at $38.79 on the Nasdaq exchange Wednesday. Yahoo issued its earnings statement after the close of the financial markets.

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