Update: Yahoo’s shares have fallen about 14 percent in after hours trading, following Q2 results…
Net income in Q2 more than doubled to $113 million from $51 million in the year-ago period. Revenues were $832 million, compared to $321 million for the same period of 2003. Revenues excluding traffic acquisition costs were $609 million for Q2, compared to $321 million in the year-ago quarter.
Marketing services revenue totaled $691 million, a 215 percent increase from the $219 million reported in the same period in 2003.
Fees revenue totaled $104 million, a 49 percent increase compared to the $70 million reported in the same period in 2003. This increase was primarily driven by the growth in the number of paying relationships for Yahoo’s premium services, which were approximately 6.4 million at June 30, 2004 compared to approximately 3.5 million at June 30, 2003.
Listings revenue for the second quarter of 2004 totaled $38 million, a 17 percent increase compared to the $32 million reported in the same period in 2003.
TheStreet.com: For those who were expecting Yahoo! to beat the second-quarter revenue consensus, the disappointment appeared to stem from a shortfall in its core business of marketing services, which encompasses both traditional, branded advertising and paid search.
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