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Yahoo Profit Beats Estimates, CEO Pleased

Yahoo Profit Beats Estimates, CEO Pleased

Though Yahoo's $293 million profit during the quarter that ended September 30 was down 26 percent compared to last year, the number beat the expectations of analysts, reports CNN Money.

According to the news source, the company's sales, which fell 5 percent from last year, were also higher than anticipated. Tim Morse, the company's chief financial officer and interim CEO, told analysts in a recent conference call that partnerships have aided Yahoo's business significantly.

"On the premium side, we're going to continue to ramp up our sales force," noted in the conference call. "I feel great about ABC, working well with Facebook, and working well with a number of video producers."

The numbers were reported at a time of uncertainty for Yahoo, which recently fired CEO Carol Bartz, who criticized the board of directors following the dismissal, according to the news source.

Additionally, private-equity firm Silver Lake Partners is reportedly working with Microsoft Corp. to compile a proposal to buy Yahoo, sources close to the situation told the Wall Street Journal.  

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