Yahoo! Corp.,search and directory service, has announced an approximate doubling of revenues and advertisers for its second fiscal quarter. However, due to its reinvesting strategy, the company reported a $1.4 million loss for the quarter.
While the company published results of its second quarter, ending June 30, a story out of Japan said the Yahoo was talking to Softbank Korea about establishing a "Yahoo Korea."
In its first quarter as a public company, Yahoo reported $1.7 million in revenues with a net income of $81,000. Revenues for the recently ended second quarter were $3.3 million and its $1.7 million loss equaled $0.05 per share.
In spite of a loss of income, Edwards said the company is very pleased with the quarter. "We have more than doubled our advertisers from 112 to more than 230," she said. "From the very beginning, even in our initial prospectus, we said we were going to heavily reinvest in the company and that is exactly what we have done. We are really right on target for where we want to be."
Being a free service to Internet users, Yahoo is dependent on advertising dollars for its primary revenues. During the second quarter, the main guideline for attracting advertisers, the number of World Wide Web pages accessed daily by Internet users, was up by 50%. In March, an average of six million pages were accessed per day. By June, the average increased to nine million.
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