SearchEngineUpdate with Vanessa Zamora - 07-23-2008 Part I
Abstract: 1. Yahoo Q2 Earnings Report, 2. Google In Acquisition Talks With Digg: Report
Vanessa Zamora
Video Content Producer, SearchEngineWorld
6:04 pm on July 23, 2008 (utc 0)
Transcript
Wednesday July 23, 2008
Yahoo Q2 Earnings Report
Yahoo yesterday reported its 2nd quarter 2008 financial results, with a net income at $131 million, a decrease of 19 percent compared to the same period in 2007, or 9 cents per share, 1 cent short of wall street expectations, net revenue of $1.35 billion, an increase of 8 percent, but still shy of the $1.37 billion in net revenue expected by analysts. Despite missing wall street expectations, Yahoo Chief Financial Officer responded with a statement that called the quarter strong:
TechCrunch is reporting that social news site Digg is in the final stages of negotiation to sell itself to Google for $200 million. Reportedly Google has been in ongoing talks with Digg for sometime to merge Digg into the Google News Group. Unlike last time rumors surfaced that Digg might be acquired by Google, Microsoft or another major media company, Digg this time is staying mum on the topic. According to the report, it may be some time before more information is revealed, as it could be weeks before the deal closes, if it closes at all. Aside from some of the potential Digg features the acquisition would bring to Google News, one other significant effect could mean the possible termination of a partnership Microsoft had to sell and serve ads on Digg.
