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(Continued)     October 16, 2004 edition
In news on Wednesday, Yahoo's strong profit increase was largely attributed to the performance of its Overture search engine advertising subsidiary. Yahoo posted net income of $253.3 million, or 17 cents a share. Excluding the item, its profit would have been $124 million or 9 cents a share. Yahoo earned $65.3 million, or 5 cents a share, in the third quarter of 2003, when it was still sharing advertising revenue with Overture.

“Yahoo began to demonstrate the next stage in the Company’s evolution in the third quarter, and in doing so recorded its sixth consecutive quarter of record revenue,” said Terry Semel, chairman and chief executive officer, Yahoo. “We accelerated the pace at which new products and services were developed, which in-turn helped increase the level of user engagement across the Yahoo network.

Our engaged audience enables us to deliver an unmatched set of advertising opportunities, providing deeper value to our marketers, and supporting the mantra that great products are the key to a great business.”

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