Yahoo: Bernstein Cuts Target, Expects Weak Q3 Report

October 15, 2008 at 6:28 am PT

Yahoo (YHOO) reports Q3 results next Tuesday. Brace yourselves for something ugly.

Late Tuesday, Bernstein Research analyst Jeffrey Lindsay provided a pre-announcement update on the prospects for the quarter, and he is not optimistic. Lindsay is looking for revenue of $1.39 billion and pro forma profits of seven cents a share; that is a bit above the consensus at the top line, but two cents below the Street at the bottom line.

He notes that the Interactive Advertising Bureau last week released data that showed paid search grew 24 percent in Q2, compared to 17 percent for display ads, while classifieds and sponsorships fell 6 percent and overall ad spending rose 13 percent.

Read the rest of this post

Tagged with: Barrons, Bernstein Research, Eric Savitz, frontpage, Interactive Advertising Bureau, Jeffrey Lindsay, Tech Trader Daily, Yahoo

comments so far. Add yours.

About Voices

Along with original content and posts from across the Dow Jones network, this section of AllThingsD includes Must-Reads From Other Web Sites — pieces we’ve read, discussions we’ve followed, stuff we like. Six posts from external sites are included here each weekday, but we only run the headlines. We link to the original sites for the rest. These posts are explicitly labeled, so it’s clear that the content comes from other Web sites, and for clarity’s sake, all outside posts run against a pink background.

We also solicit original full-length posts and accept some unsolicited submissions.

Voices is edited by Beth Callaghan.