Yahoo Beats Street, Again
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My estimate for Yahoo (NASDAQ:YHOO) earnings was $0.10 this quarter, slightly more bullish than most analysts. Yahoo beat that by 10% with $0.11 EPS not counting costs associated with acquiring GeoCities or Broadcast.com.
Revenue jumps 156% to $115 million, average page views hit 310 million per day vs. 235 million in Q1. Page view numbers are about where I expected and revenue growth is also in line with my targets. Hats off to the patron saint of Web growth.
YHOO shares are off 4.6% on profit taking (buy on rumor, sell on news style investing) but I think shares could pop a little Thursday if the market sees the bulk of the gorilla of the Web.
Yahoo buyout target Broadcast.com (NASDAQ:BCST) also reports results today. Loss is narrower than expected at $1.9 million or $0.05 loss per share, beating First Call's consensus of $0.09 loss per share. Revenue hits $13.5 million vs. $5.9 million 2Q98. Yahoo agreed to acquire BCST for .7722 shares of YHOO.