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The Internet media giant reported its sixth consecutive quarterly loss yesterday, but increased forecasts for the rest of the year, largely because of business generated by its acquisition of online career site HotJobs.

YAHOO NOT CRYING BOO-HOO, SAYS BETTER TIMES LAY AHEAD

Internet Icon Experiences Sixth Consecutive Quarterly Loss, But Says Things Are Looking Up
The heat is on Yahoo boss Terry Semel.

The Internet media giant reported its sixth consecutive quarterly loss yesterday, but increased forecasts for the rest of the year, largely because of business generated by its acquisition of online career site HotJobs.

Yahoo reported a first-quarter net loss of $53.7 million, or 9 cents per share, compared with a net loss of $11.5 million, or 2 cents per share, a year earlier. On an operating basis, though, the company turned a profit of $10.5 million, or 2 cents per share, compared with a loss of $11.5 million, or 2 cents per share, last year.

The company said its revenue rose to $192.7 million from $180.2 million in the year-ago first quarter, well above forecasts for revenue of $175.3 million.

In a statement by Chief Exec Semel, he credits the company’s addition of more fee-based services to counteract the overall advertising slump, but gave little indication of their success.

The company also said it expects second-quarter revenue between $205-225 million, and full-year revenue of between $870-910 million.

Yahoo shares slipped 2 cents yesterday in Nasdaq trading to $18.44. After the market closed, the earnings announcement boosted the stock price to $19 before it drifted down to $17.85.

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