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Yahoo!'s Q3 Earnings Seen Above Estimates ! - 10/7/2004 5:38:38 PM   

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Credit Suisse First Boston reiterated an "outperform" rating for Yahoo! and said it expects the Internet giant to report strong third-quarter results. "Based on the strength of the company's marketing services businesses, both search and display advertising, we believe Yahoo! will exceed consensus expectations," it said. Yahoo! captured 23.8% of total search pages viewed for the week of Sept. 26, placing it second behind Google which had 52.2% of search views, according to CSFB. The research firm predicts the company will report quarterly earnings of 10 cents per share, on a GAAP basis, and revenue of $675 million. "We continue to believe we are at the early stages of a dramatic growth phase for online advertising, of which Yahoo! will be a major beneficiary," it said. "While there will certainly be no shortage of volatility in the share price, particularly around earnings, we believe long-term investors will profit from owning shares of Yahoo at these levels." The research house maintained its $45 price target for Yahoo!, which will report earnings on Oct. 12.

Source : Forbes
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