Yahoo Japan's Q3 net profit hits record high on advertising business |
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Published
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Wed, 24 Jan 2007 07:48
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TOKYO (XFN-ASIA) - Yahoo Japan Corp, an on-line auctioneer and Internet advertising company, made a record net profit in the fiscal third quarter ended December, driven mainly by its advertising business, the company said.Softbank Corp owns 41.3 pct of Yahoo Japan.Yahoo Japan posted a third-quarter net profit of 15.17 bln yen, up from 12.65 bln yen a year earlier. Current profit rose 29.5 pct to a record 26.63 bln yen, operating profit expanded by 31.1 pct to a record 27.70 bln yen and revenue increased 16.9 pct to a record 54.52 bln yen.In October, the company had forecast net profit of 13.65-15.20 bln yen and current profit of 24.0-26.5 bln yen on revenue of 51.7-55.2 bln yen.The third-quarter operating profit of Yahoo Japan's advertising business jumped to 12.1 bln yen from 9.6 bln yen a year earlier and from 11.75 bln yen in the second quarter.Yahoo Japan said there had also been major growth in its auction business owing to an upturn in the number of users since the easing of verification rules for exhibitors.The personal service division, which includes the auction business, logged third-quarter operating profit of 12.91 bln yen, up from 9.92 bln yen a year earlier and 11.71 bln yen in the second quarter.For the fourth quarter, Yahoo Japan is forecasting net profit of 14.25-15.0 bln yen and current profit of 26.1-27.25 bln yen on revenue of 54.20-56.20 bln yen.(1 usd = 121.56 yen)yasuhiko.seki@xfn.com
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Yahoo's good show fails to impress investors, stocks slide 13% 