Yahoo! Results: Modest Growth, Operating Income Down

Here’s the release (pdf). Highlights:

Second Quarter 2007 Financial Results

• Revenues were $1,698 million for the second quarter of 2007, an 8 percent increase compared to $1,576 million for the same period of 2006.
• Marketing services revenues were $1,486 million for the second quarter of 2007, a 7 percent increase compared to $1,386 million for the same period of 2006.
• Marketing services revenues from Owned and Operated sites were $887 million for the second quarter of 2007, an 18 percent increase compared to $752 million for the same period of 2006.
• Marketing services revenues from Affiliate sites were $599 million for the second quarter of 2007, a 5 percent decrease compared to $634 million for the same period of 2006.
• Fees revenues were $212 million for the second quarter of 2007, a 12 percent increase compared to $190 million for the same period of 2006.
• Revenues excluding traffic acquisition costs (“TAC”) were $1,244 million for the second quarter of 2007, an 11 percent increase compared to $1,123 million for the same period of 2006.
• Gross profit for the second quarter of 2007 was $1,015 million, a 9 percent increase compared to $930 million for the same period of 2006.
• Operating income for the second quarter of 2007 was $185 million, a 19 percent decrease compared to $230 million for the same period of 2006.

Segment Financial Results

• United States segment revenues for the second quarter of 2007 were $1,119 million, a 5 percent increase compared to $1,070 million for the same period of 2006.
• International segment revenues for the second quarter of 2007 were $579 million, a 15 percent increase compared to $506 million for the same period of 2006.

Cash Flow Information

Free cash flow was $328 million for the second quarter of 2007 compared to $358 million for the same period of 2006.

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I’ve provided some additional detail as well as some of the details of the earnings call in my SEL post. Here’s the WSJ (sub req’d) article.


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