Yahoo! (YHOO) rallied like mad going into the close, rising as much as 4% starting around 2.30. It almost looked suspicious.
The rally was a mistake. Earnings were inline with expectations, and the stock was down about 2% at 4.40 PM New York time.
Revenues were $1,698 million for the second quarter of 2007, an 8 percent increase.
Revenues excluding traffic acquisition costs ("TAC") were $1,244 million for the second quarter of 2007, an 11 percent increase.Net income for the second quarter of 2007 was $161 million or $0.11 per diluted share The market expected that the company would earn 11 cents a share for the quarter on net sales of $1.24 billion, according to analysts polled by Thomson Financial.
Free cash flow was $328 million for the second quarter of 2007 compared to $358 million for the same period of 2006. Operating income for the second quarter of 2007 was $185 million, a 19 percent .
Douglas A. McIntyre