Yahoo revenue down 24%; IBM shares slip on earnings report

Posted by Techvibes Newsdesk on 2011-10-18 5:00:00 PM

Yahoo and IBM both released earnings reports today. Yahoo met expectations, but that's not necessarily a good thing—expectations were pessimistic. Meanwhile, IBM met expectations too but still saw its share price slip in after-hours trading.

Yahoo's net earnings are down 26% and its revenue is down 24%. To distract from the withering financial outlook, the company announced numerous new features such as Facebook integration with Yahoo News and a premium video portal. Yahoo's CTO, Raymie Stata, resigned not long after the board fired CEO Carol Bartz. The company continues to look more and more tempting as an acquisition target.

IBM's stock dippd 3% despite meeting Wall Street forecasts. Revenue rose 8% to $26 billion and the company reported a profit boost of 15% to $3.28 per share.

Image: Trondheim-Photos.com

Company:
IBM Canada
Website:
http://www.ibm.com/ca/en/
Location:
Toronto, Ontario, Canada

IBM Canada Ltd. is a leading provider of advanced information technology products and services. As a technology-based solutions company, IBM is dedicated to helping its customers solve their business problems, pursue new market opportunities and become more productive through the innovative application of e-business and Internet technology. Headquartered in Markham, Ontario, IBM Canada has nationwide... more

Company:
Yahoo! Inc
Website:
http://yahoo.com
Location:
Sunnyvale, California, United States

Founded in 1994 by Stanford Ph.D. students David Filo and Jerry Yang, Yahoo! began as a hobby and has evolved into a leading global brand that has changed the way people communicate with each other, conduct transactions and access, share, and create information. Today, led by an executive team that includes CEO and Chief Yahoo Jerry Yang, President Susan Decker, Chief Financial Officer Blake Jorgensen, and... more

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Techvibes Newsdesk

Techvibes Newsdesk

Techvibes is Canada's leading technology media property. Originally founded in 2002, Techvibes is dedicated to covering social, mobile, and startup news that impacts Canadians. Our editors and nationwide network of reporters combine breaking hyperlocal news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and... more

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