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(July 11, 2001) -- Yahoo! beat analysts' estimates in announcing its 2001 second-quarter financial results today.

Net revenues totaled $182 million for the quarter, compared to $273 million during the same period last year. Pro-forma net income was $8.7 million or 1 cent per diluted share, compared to last year's total of $69 million or 11 cents per share. The actual net loss for the second quarter was $48 million, or 9 cents per diluted share, compared to actual net income of $53 million or 9 cents per diluted share for 2000, including restructuring and acquisition-related charges of $45 million.

In addition, the company announced the hiring of four senior executives. Mark Opzoomer was named the new regional vice president and managing director of Yahoo! Europe; he previously was chairman of Xtempus Limited, a wireless services business. Allan Kwan, regional vice president and managing director of Yahoo!'s North Asia operations, was chairman-CEO of Inc. S.I. Lee, who was named chief executive of Yahoo! Korea, was regional CEO and executive vice president of marketing for Asia OnLine. John Glascott, regional vice president, eastern division, was senior vice president of sponsorships at iVillage. -- Adrienne Mand

Copyright July 2001, Crain Communications Inc.

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