Yahoo Rebounds–in the Stock Market
Bloomberg reports that Yahoo’s profit is up and–this is the key to the stock news–they “exceeded expectations” (am I the only person who wonders where Wall Street gets those expectations we keep hearing about in the financial news?):
The only time I went to Yahoo in the past year was to look at it for a post I wrote here a little while ago.
A close reading of the story indicates that Yahoo’s financial performance seems to have more to do with cutting expenses than it does with improving the product. It looks to me that this has a lot to do with numbers and not much to do with Yahoo’s product which is, behind all the web portal stuff, a search engine.
Here’s another gem from the same article:
It looks like Bing! and Yahoo are fighting it out for Number Two. And Bing doesn’t have to worry about Wall Street’s “expectations.” Microsoft has deep pockets.