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Yahoo’s fourth quarter earnings report was a case of ‘good news’ / ‘bad news’.

First up, the bad news

Yahoo suffered through its first money-losing quarter since the first quarter of 2002 – and it suffered its first quarterly revenue drop since the fourth quarter of 2001. Nice.

Now, the good news

The numbers weren’t as bad as analysts expected. While most analysts were projecting about 13 cents a share, Yahoo delivered came in at 17 cents – hey, not too shabby, Yahoo! :: rolls eyes ::

Newly crowned CEO Carol Bartz had this to say with regard to the company and any future merger plans:

Did I come to Yahoo to sell the company? No. . . . Am I planning on immediately selling the search business? I did not come here with preconceived notions. It is very easy from the outside to have preconceived notions of what Yahoo should do. Now as an insider and CEO it is my job and responsibility to do what is best for customers, shareholders, and employees.

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Oh wait, we forgot my favorite quote:

This is not a company that needs to be pulled apart for the chickens.

Alllllllllllll-righty-then.

Here are some other fourth quarter figures…

* Revenues were $1,806 million for the fourth quarter of 2008, a 1 percent decrease compared to $1,832 million for the same period of 2007.
* Operating loss for the fourth quarter of 2008 was $278 million compared to operating income of $191 million for the same period of 2007.

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