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Yesterday Yahoo reported Q1 earnings that beat Wall Street expectations, which suggests Microsoft’s $44.6 billion takeover bid does indeed undervalue the company.
Odds are high, however, that Microsoft will buy it anyway, reports the Associated Press (via MarketingVox).
Yahoo reportedly earned $542.2 million in the first quarter of 2008 — three times more than 2007’s Q1 earnings of $142.4 million. Part of the improvement stemmed from a $401 million non-cash gain representing Yahoo’s stake in the parent company of Alibaba.com.
Cutting out that one-time swell reduces earnings to $141 million, flat with 2007’s numbers.
Revenue totaled $1.82 billion, down to $1.35 billion after payments were made to advertising partners.
The figures, combined with Yahoo’s decision not to raise its revenue outlook for the rest of the year, means Yahoo remains vulnerable to Microsoft’s aggressive acquisition stance.
Before Yahoo’s earnings were announced, Microsoft CEO Steve Ballmer stated the news would not alter its acquisition strategy, CNet reports.
Yahoo has until this Saturday to approve the offer. If it fails to do so, Microsoft shall attempt to oust the board.
Sprint will deliver live radio broadcasts of all NFL games, plus television broadcasts of eight Thursday night games on the NFL Network.
The radio coverage will begin Sept. 2; Thursday night television broadcasts will start Nov. 6.
Radio broadcasts include…
Hachette’s Home magazine is closing its doors, following a serious slip in ad pages in the first half of the year.
Ad pages for Home were down 31 percent in the first six months of 2008. Across the board, shelter…
Eight-time Olympic medalist Michael Phelps will be featured on the front of Kellogg’s Frosted Flakes and Corn Flakes boxes beginning next month, rather than on the iconic General Mills cereal that is more generally known for featuring sports greats.
The…
Timberland’s new ad agency, Leagas Delaney, has told the company that its promotion of environmental causes is distracting from its products, the Wall Street Journal reports (via Environmental Leader).
After seeing revenues decline six percent to $210 million on lower sales in…
The new editor of the Chicago Tribune, Gerry Kern, has sent a memo to staffers saying that “the experience of the news is as important as the news itself.”
The phrase is meant to offer an explanation for the changes the…
Polo Ralph Lauren will soon launch what will become one of the mobile web’s first ecommerce sites.
Polo hopes to stay ahead of a trend that is moving slowly from Asia to the United States, said David Lauren, senior vp…
