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.