Yahoo Q3 Profit Doubles But Revenue Fails To Impress

Yahoo's recently announced third quarter financial results indicate that it clearly has some work ahead of it to be at par with its rivals, but is moving in the right direction nonetheless.

According to Yahoo, the company's net income rose to 396 million, or 29 cents a share, from the $186 million, or 13 cents a share it had posted a year ago.

Yahoo's revenue, on the other hand, was reported to be $1.6 billion, but was around $1.2 billion after excluding payments made to partner companies. Analysts had expected Yahoo to post revenue of $1.3 billion.

The company's revenue from online display advertising business increased by 17 per cent in the third quarter, while sales increased 2 per cent to $1.58 billion.

Yahoo chief financial officer Tim Morse told The Financial Times that the total number of page views on Yahoo fell by 4 per cent, while total number of minutes spent by users and unique visitors increased.