Is Google Next? – Yahoo Profit Slumps, Job Cuts on Tap

After U.S. markets closed Tuesday, Yahoo said net income in the quarter fell to $54.3 million, or 4 cents a share, from $151.3 million, or 11 cents a share, in the same period a year earlier.

Excluding special items, Yahoo said earnings for the period ended in September fell to 9 cents a share. Net revenue rose to $1.33 billion.
Analysts on average had estimated Yahoo would report earnings of 8 cents a share for quarter and $1.37 billion in net revenue, according to FactSet Research.

Sunnyvale, Calif.-based Yahoo said it plans to cut its global workforce of 15,000 by at least 10% during the current quarter, or by a total of roughly 1,500 jobs.

read more | digg story

Other Related Posts

• Website Promotion Internet Marketing Advertising in Google Yahoo MSN
• The Google Adsense Millionaire – Black & White Edition: Learn What It Takes To Turn Your Website Into An Online Advertising & Marketing Force
• Website Advertising Tips
• Advertising 2.0: Social Media Marketing in a Web 2.0 World
• Affiliate Marketing: Learn How To Make Fast Money With Affiliate Marketing ? Get Free Ppc Advertising
• Search Engine Marketing | Affiliate Marketing | Internet Advertising
• The New Rules of Direct Email Marketing: How to Use Direct Email Advertising and Article Marketing Techniques to Reach Your Target Audience