*** Yahoo! slumps despite jump in profits
Tim Byars (tbyars@earthlink.net)
Fri, 9 Oct 1998 03:00:23 -0700
>NEW YORK (Reuters) - Shares of Yahoo! were sharply lower Thursday as
>Wall Street's distaste for tech stocks overcame the Internet giant's
>news of robust growth, increased web traffic and positive comments
>from analysts. Technology stocks have fallen sharply in recent
>sessions, depressed by the slumping global economy and expected
>decline in overall capital spending, even as some internet companies
>are reporting surprise earnings. After the close Wednesday, Yahoo
>said it earned $0.15 a share in the third quarter, up from $0.01 a
>share, on sales of $53.6 million, up from $18.1 million. Wall Street
>analysts were expecting $0.09 a share for the quarter. See
>http://www.infobeat.com/stories/cgi/story.cgi?id=2556487529-ef1
To put this in perspective, last year Drew Carry earned $30 million.
Tim
--
Go sell crazy somewhere else,
we're full up here. ...Nicholson
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