Yahoo Shares Fall on Reports of Lower Advertising Sales and Revenue – Ripple Hits Google eBay and Amazon

Yahoo Shares Fall on Reports of Lower Advertising Sales and Revenue – Ripple Hits Google eBay and Amazon

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Yahoo! says that sales this quarter will be at the low end of the forecast spectrum. Slower advertising demand from automakers and financial service providers made the difference. “We have seen a little bit of weakness in the last three or four weeks,'' Chief Financial Officer Susan Decker said today at a Goldman, Sachs & Co. conference in New York. “It is having an impact on our quarter.''

The price of Yahoo! shares dropped $3.43 to $25.57 at 12:39 PM (EST) in the NASDAQ Stock Market composite trading. Google shares dropped $17.24 or 4.2 percent as well, to $397.45. This prompted a drop in both eBay and Amazon shares.

The report from Yahoo may have surprised some investors who have already been hurting from the Yahoo stock slide this year. The company did not give any indication as to how low the numbers will be. Back in July the estimates were between $1.11-billion and $1.22-billion for the third quarter.

Decker told reporters later that "It's a new trend. It's been two to three weeks and we don't know yet if it's an indicator of a broader slowdown. We're seeing it enough to say something. I don't want to overplay it either."

By Dan Wilson
Best Syndication Writer

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