Ever since the ex-Google executive has taken the charge of Yahoo as the CEO, the share price has soared by more than 70% as she has worked way more to entice the investors rather than the advertisers. She has acquired around 16 startups and has strong connections in the Silicon Valley; while on the other hand she hasn’t done much to attract the advertisers where advertisements constitute to a heavy portion of Yahoo’s revenue. The second quarter’s earnings were unveiled on Wednesday where the net income jumped significantly, however the revenue part slipped by 1 percent and the display revenue plunged by around 11% in the second quarter of this year.
The share price gained on Wednesday down from $27.52 till $29.73 a share just before the closing of the U.S session, as the investors are still expecting the price to soar further since good outcomes are expected from the startups it has acquired.
Profit Delight for Goldman Sachs
Goldman Sachs posted its 2nd quarter profits that beat the estimates of Wall Street by a huge margin, where the bank managed to double its profits in this prolific quarter of 2013. The net income jumped to $1.86 billion from its previous reading of $927 million, while the share price has surged till $3.7 a share up from its $1.78 a share level of last year’s second quarter.
Sources say that the bank has done pretty well to maintain its balance sheet and income statement by lowering down its costs in different sectors, while making the most of the lending given by the Fed. Buying opportunity for the shareholders remain there at Goldman Sachs as the bank is also restructuring its investment and trading division, which is directed to further bring efficiency.
Coke’s CEO is Not Happy
The earnings report of the largest beverage player in the market were in line with the expectations, where the company’s net income slipped by 59 cents a share while the revenue plunged by around 3% taking it down to $12.75 billion. Although the earnings are satisfactory but the Muhtar Kent, CEO and Chairman, said that he is not happy with the outcome that are reflecting the macroeconomic challenges that are being faced by the firm that are reducing its global volume. The market share may get affected according to analysts, provided the consumption of Coke’s beverages keep falling, especially in new areas when its competitors are tapping in.