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Apr 22 2008 12:00am EDT
Yahoo Earnings Out: Certainly Not Enough to Keep the Wolf Away
So, you KNOW the earnings aren't great when the financial press release buries the number. The top of Yahoo's just-out earnings announcement highlights a 9% revenue gain (nothing for a Web company to write home about) and cash flow was way up and, well...that's about all there is to highlight.
Operating income for the first quarter was down 28%. Reported net income was way up, but only because of the non-cash equity Yahoo gained from the IPO of Alibaba Group. When all was said and done, Yahoo had a flat quarter.
Conference call is at 5 pm ET.
Microsoft earlier today said that whatever the Yahoo results today, it won't affect Microsoft's bid.
The deal seems all but done.
Some instant analysis from Henry Blodget. □
