Yahoo: Online Advertising Has Stabilized

Results from the Web portal gave further evidence that the online ad slump is ending, though executives stopped short of calling a recovery.

While no match for the resurgent third quarter reported by Google a few days earlier, Yahoo's results and its forecast for current-quarter sales beat analysts' expectations and gave further evidence that this year's swoon in Internet advertising may be ending.

Investors were pleased with the results, boosting Yahoo's shares almost 6% in extended trading after the market close. "It was a clean 'beat' quarter," says Sandeep Aggarwal, an analyst at financial services firm Collins Stewart. "You see signs of stabilization, which is very positive."

Yahoo, in the midst of a sweeping reorganization and rebranding campaign under CEO Carol Bartz since she joined in January, emphasized that the online advertising market is stabilizing. But still-declining revenue signaled that a full-blown recovery has yet to materialize. "Ad spending is starting to free up, and we are a great value proposition for advertisers," Yahoo Chief Financial Officer Tim Morse said on a conference call discussing the results. Bartz did not participate in the call because she had a minor illness. However, she said in a statement that Yahoo had a "solid third quarter that signals our major businesses have stabilized."

Full article:
Yahoo: Online Advertising Has Stabilized - BusinessWeek

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