News

Weathering Storm, Yahoo! Maintained

10/13/2002 8:00 PM Eastern

UBS Warburg LLC media analyst Christopher Dixon maintained his "hold" rating on Internet portal Yahoo! Inc. but said he was encouraged by the company's strong third-quarter performance. Yahoo! beat Dixon's estimates for the period, with revenue of $248.8 million, cash flow of $60.2 million and earnings per share of $28.9 million. However, in his report Dixon said he would like to see one more quarter of growth before he considers changing his rating. "At this point we believe that Yahoo! has weathered the storm, we just need a little more time for the winds to die down and the waves to subside," Dixon wrote in his report.

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