The much awaited financial results for Yahoo's first quarter ending on March 31st 2008 have been announced. According to Yahoo! , the revenues for the first quarter of 2008 have been at $1,818 Million, which is a 9% increase compared to $1,672 million for the first quarter financial results of 2007. The operating income for this quarter has been $121 Million. Yahoo's operating income for the first quarter results of 2007 was $169 million for the same period of 2007. There has been a 28% decrease in operating income compared to 2007.
Yahoo! CEO Jerry Yang commented, Ă˘â‚¬Ĺ“ As outlined in our investor presentation, we believe we can significantly accelerate our revenue growth, return to our historically high margins, and double our operating cash flow by 2010. This quarterĂ˘â‚¬â„˘s solid performance underscores the fact that we are executing on that plan. Yahoo! is beginning to realize the benefits of the very substantial and deliberate long-term investments weĂ˘â‚¬â„˘ve made to capitalize on the opportunities ahead in display and to recapture momentum in search,Ă˘â‚¬Âť said Jerry Yang, co-founder and chief executive officer. Not only does Yahoo! have a unique franchise, it increasingly has industry-leading tools, technology and, most importantly, people. It is the hard work, dedication and professionalism of our people that is our greatest asset and this quarterĂ˘â‚¬â„˘s performance demonstrates how well they can perform under unusually challenging circumstances.Ă˘â‚¬Âť
In the year 2007, the marketing services revenues for the first quarter were $1,469 million. For the year 2008, there has been a 7% increase in the market revenues climbing to $1,572 million for the first quarter. The Gross Profit for the first quarter of 2008 amounted to $1,063 million which is an impressive 11% increase compared to 2007's $958 million
Commenting on these satisfactory results, Yahoo! CEO Sue Decker said, Ă˘â‚¬Ĺ“The heart of Yahoo!'s strategy to win is the simple proposition that if we are the starting point for the most users and provide the most comprehensive, easiest-to-use, Ă˘â‚¬Ëśmust-buyĂ˘â‚¬â„˘ platform for advertisers, we can drive the growth in volume and the improvement in yield we need to accelerate growth in revenues and operating cash flow. That, in turn, we believe will deliver attractive value to our stockholders. This past quarterĂ˘â‚¬â„˘s financial results, important acquisitions, and, most importantly, the string of successful product roll-outs demonstrate our enhanced execution against our longer-range goals. As we look forward, we are particularly excited by the potential capability of AMP! from Yahoo!, our revolutionary new ad management platform to help us further extend our lead in display advertising, which more than any other area of online advertising we believe has great potential for growth.Ă˘â‚¬Âť