As revenue rises 22% for 2006, Yahoo pushes new search marketing service
Revenue rose at Yahoo Inc. to $1.7 billion for the fourth quarter ended Dec. 31, 2006, as full-year revenue rose 22% to $6.4 billion, Yahoo reports. Q4 net income fell 60% to $269 million and full-year net income declined 60% to $751 million, but Yahoo expects a better year in 2007 as advertisers migrate to its new Panama search marketing service, CEO Terry Semel said in a conference call with analysts.
Semel says Yahoo expects all U.S. search advertisers to migrate to Yahoo’s new Panama search marketing service by the end of this quarter. The new service is expected to produce better performance for both advertisers and Yahoo under a structure that ranks search results by relevance as well as bid price, he says.
“We are very optimistic about the potential of our search monetization initiative to improve the value of search for Yahoo and our partners,” says CFO Susan Decker. “For 2007, we are organized to maximize value for Yahoo’s key customer groups—audiences, advertisers and publishers—by delivering engaging products and effective solutions for consumers and marketers, both on and off the Yahoo network.”
Yahoo’s Matt Heist, general manager, Yahoo Shopping, will speak at the Internet Retailer Conference & Exhibition, June 4-7 in San Jose in a session entitled Mining the Big Portals Sites for Rich Data Nuggets.
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