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Yahoo Japan First Quarter Profits Nearly Double
Citing increases in advertising sales and use of its online auction house, Yahoo Japan announced that their first quarter profits for 2004 nearly doubled the amount of 2003. Japan's largest portal also saw a 57.4% increase in sales.
According to Reuters' report, the encouraging financial news was well received. Yahoo Japan President Masahiro Inoue, during a press conference yesterday, said, "We did fairly well this quarter. The strongest performance came from the listing business, which was helped by the popularity of the recruiting section."
Yahoo Japan's profits jumped up from ¥4.5 billion to ¥8.3 billion ($76.5 million). Sales amounts rose from ¥15.6 billion to ¥24.5 billion. (Numbers courtesy of CBSMarketWatch.)
The portal easily surpassed the company forecast of ¥6.85-7.75 billion.
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