Tim Koogle, chief executive of Yahoo!, responded to the news in a prepared speech by commenting:
“this quarter’s better-than-expected financial results underscore the strength of our global franchise business...we will continue to focus on key growth areas to maximise the inherent leverage and scale in our business to deliver the best services available on the Web”.
Yahoo! revealed its net earnings for the quarter to be $73.9m with sales rising by 110% to $270.12m. In addition, its recorded number of page views had reached an average of 680m per day in June, which is on average 55m more than its March figures and it had registered 156 million unique users in the quarter.
Some observers still warn that deteriorating internet advertising sales could stunt Yahoo!’s continued growth. It relies on advertising and business services for 25% of its business.
However, it does not appear to be worried by this prospect as its new chief financial officer Susan Decker has explained, “it’s possible that overall ad spending will consolidate and favour ever more the stronger companies. We believe it’s a period of increased opportunity for Yahoo!”.