The slump in the on-line advertising market has affected the first
quarter financial results of leading portal Yahoo! which yesterday
reported total revenues of just over $180 million for the three
months to 31st March, down from almost $231 million for the same
period last year. The company said it will reduce its workforce of
3,510 by around 420.
Yahoo!, is still without a permanent CEO following the March
announcement that Tim Koogle would step down to the role of
Chairman. It is one of the last of the big internet companies to
announce its first layoffs. The company forecasts full year results
somewhere between breaking even and making a profit of $50
million.
Despite the decrease in revenues, Yahoo!’s sites are increasing
in popularity and continue to hold the top position in traffic
rankings. Total unique users reached 192 million during March, up
from 145 million in March 2000. The company's traffic increased to
more than 1.1 billion page views per day on average during last
month, up more than 22% on page views during December 2000.
More
detail on the Yahoo! results.
