Yahoo yesterday reported net revenues for the second quarter ended June 30, 2002, totaled $225.8 million, a 24% increase over the same period last year. Net revenues for the six months ended June 30, 2002, increased 15% over the same period last year.
In the past year, Yahoo has cut costs and emphasized subscription revenue over advertising revenue. In April, Yahoo Auctions laid off a number of employees. And in May, Yahoo Auctions closed its European sites and entered into a marketing agreement with eBay.
Yahoo said its Marketing Services revenues totaled $135.7 million, a 4% decrease from the same period last year, which primarily resulted from a decrease in renewals of previous advertising arrangements from Internet companies, partially offset by an increase in revenues from small-to-medium sized companies realized through Yahoo's sponsored search services and inside sales organization.
Fees and Listings revenues totaled $74.1 million, a 109% increase compared to the same period last year. This increase was primarily driven by the HotJobs acquisition in the first quarter of 2002, the monetization of Yahoo Personals, as well as an increase in the number of paying customers for Yahoo's other fee- and listings-based services.
Transactions revenues totaled $16.0 million, a 179% increase compared to the same period last year. This increase was driven primarily by increased commerce transactions enabled on the Yahoo network and a shift in some marketing service and fee-based arrangements towards performance-based agreements.
"Yahoo! has maintained an intense focus on achieving its strategic goals and executing against its business plan. We are very pleased that our efforts have resulted in both strong top-line and EBITDA growth this quarter despite a tough overall economic environment," said Terry Semel, chairman and chief executive officer, Yahoo Inc.
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