Yahoo Incorporated, the popular Internet Web portal site, met Wall Street expectations last night with its fourth-quarter financial report, but the company issued a warning for slowing growth in 2001.
For the quarter ending December 31, 2000, Yahoo reported net revenues of $310.9 million, a 53% increase over the same quarter in 1999. Adjusted net income for the fourth quarter of 2000 was $80 million, or 13 cents per share. Net income per share was nine cents in the same quarter in 1999.
The company said net revenues for fiscal 2000 were $1.1 billion, an 88% increase over net revenues of $591 million in fiscal 1999.
'We are entering 2001 as one of the strongest brands in the world,' said Yahoo chairman Timothy Koogle. 'In the coming year, we will invest further in key initiatives to gain still greater market share and to succeed in the long term.'
But Yahoo Chief Financial Officer Sue Decker also warned of some trying times ahead. 'Over the next year, we expect to see some short-term effects from the apparent softening economy and the continued realignment of our client base,' Decker said.
For the full year 2001, Decker said Yahoo expected revenues to be $1.2 billion to $1.3 billion, a sharp decline in growth from the 1999-2000 revenue increase.
