LOS ANGELES: Internet media company Yahoo! Inc has reported a fourth-quarter profit versus a year-earlier loss and forecast that a second consecutive year of double-digit gains would carry revenues above the high-water mark of the Internet boom.
For the final quarter of 2002, Yahoo posted net profit of US$46.2mil compared with a year-earlier loss of US$8.7mil. Nonetheless, its shares, which have been trading near a 52-week high, fell on the report, dropping as much as 6.2% to US$18.37 on Instinet from a Nasdaq close of US$19.58 on Wednesday.
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