Excerpt from our Wall Street Breakfast, a one-page summary of this morning's key market-moving and stock-moving stories:
Summary: Yahoo! Japan's net income rose 22% to 13.6 billion yen ($114.5 million), driven by new store openings on its online auction and shopping sites. Ad revenue, which makes up 40% of sales, was flat at 21.2 billion yen ($178.5 million). Overall, revenue grew 24.5% to 51.2 billion yen ($431 million). Yahoo! Japan doesn't issue annual earnings guidance, but did say it expects net income to be between 13.65 billion yen and 15.2 billion yen this quarter, on revenue between 51.7 billion yen and 55.2 billion yen. Yahoo! Japan is 41% owned by Softbank and 33% owned by Yahoo! Inc.
Related links: Yahoo! Q3 2006 Earnings Conference Call Transcript • Japan's Internet Giants Looking for New Growth Sources • Yahoo! Earnings: Company Continues To Face Challenges • eBay Losing to Yahoo! and Local Competitors in Asian Online Auctions • Google's Recent Quarter Impressive In Nearly Every Way (NASDAQ:GOOG) • Softbank Profitable Again, But Faces Tough Road Ahead
Potentially impacted stocks and ETFs: Yahoo! (YHOO), Softbank (OTCPK:SFTBF), Google (GOOG)
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