Yahoo! Inc. today reported results for the fourth quarter and full year ended December 31, 2003.
“Yahoo’s fourth quarter performance completes a year of phenomenal growth for our company, and represents the most successful quarter in the history of Yahoo!. As we made across-theboard improvements in our business, we were rewarded with deeper and more profitable relationships with our customers,” said Terry Semel, chairman and chief executive officer,Yahoo!.
* Revenues of $663.9 million in the fourth quarter of 2003 compared to $285.8 million in the same period of 2002.
* Revenues excluding traffic acquisition costs (“TAC”) of $511.3 million in the fourth quarter of 2003, compared to $285.8 million for the same period of 2002.
* Gross profit for the fourth quarter of 2003 was $443.1 million, compared to $243.5 million for the same period of 2002.
* Operating income for the fourth quarter of 2003 was $94.4 million, compared to $55.4 million for the same period of 2002.
* Operating income before depreciation and amortization for the fourth quarter of 2003 was $157.5 million, compared to $84.6 million for the same period of 2002. Operating income and operating income before depreciation and amortization include stock compensation expense of $20.1 million for the quarter ended December 31, 2003, primarily as a result of the acquisition of Overture Services, Inc.(“Overture”), compared to $0.7 million for the same period of 2002.
Integrated successful advertising and the implementation of Overture pay-per-click search and contextual advertising into the Yahoo web experience is seen as a major reason for this jump in revenue.
