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April 11th, 2002, 08:55 PM #1
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April 11th, 2002, 09:54 PM #3
Yahoo/CEO -3: Google Is Possible Paid-Listings Supplier
Wed Apr 10, 6:46 PM ET
Yahoo CEO Semel said the company was evaluating its options regarding paid Internet search listings. Yahoo currently has a contract to display paid listings supplied by Overture Services Inc. (OVER). But the contract expires in June, and Yahoo hasn't announced whether it will renew the deal.
Semel said Yahoo has the capacity to run paid listings itself. And there are other suppliers than Overture. One is Google (news - external web site) Inc., which already provides search technology to Yahoo, Semel said. Semel declined to say which way Yahoo was leaning.
Yahoo continues to try to sign up big-name advertisers, moving away from dot- coms. Semel said Yahoo had 58 of the Fortune 100 companies as clients in the first quarter, up from 52 in the fourth quarter.
Still, Yahoo's marketing services revenue, which includes advertising, fell to $121 million in the first quarter from $142 million a year earlier. Chief Financial Officer Sue Decker attributed the drop to "sluggish" market conditions, and to Yahoo's move away from smaller advertisers, which were more numerous a year earlier.
Decker said Yahoo's first-quarter revenues included less barter revenue than in the past. This helped boost cash flow.
While Yahoo is moving ahead with its SBC venture, it's also in discussions with other Baby Bells to possibly offer Internet access services, Semel disclosed on the conference call. Semel said the talks were going "extremely well."
Yahoo reported its first-quarter results in accordance with generally accepted accounting principles. In the past, Yahoo has also reported pro forma figures, adjusted to exclude goodwill amortization from acquisitions. Under a new accounting rule, Yahoo no longer has to amortize goodwill. As a result, Decker said pro forma numbers are no longer useful.
Yahoo shares were at $18.44, down 2 cents, in 4 p.m. Nasdaq trading.
- By Peter Loftus, Dow Jones Newswires; 201-938-5267; peter.loftus@ dowjones.com
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