Yahoo! takes a dip
A 13% dip, to be precise. As you've probably heard, Yahoo!'s numbers were at the low range of expectations, and they blamed slower ad sales as the reason.
There's a lot of discussion out there, and whilst I don't have much time to write about it today, here are several of the posts and articles I've read: AP news story, GigaOm, TechCrunch, Publishing2.0, PaidContent, Goldman sachs audio of the Yahoo! call.
The fact that Yahoo! cites autos and financial services as the primary categories on the decline should come as no surprise and be of some comfort ... It isn't digital that is having trouble. It is the auto and finance sectors. US automakers are a mess at the moment due to their own stupidity and the energy crisis. The gradual slowing of the residential housing market, worries of inflation and consumer debt, amongst other things, is pounding the financial markets.
But don't take my word on it ... “It feels and smells like a macro” problem, rather than something specific to Yahoo or the Internet industry, said Global Crown Capital analyst Martin Pyykkonen to Reuters.
Technorati Tags: advertising, yahoo
Thursday, September 21, 2006