Shortly after the market closed today, Yahoo! posted its first quarter report. It was not too much of a surprise for those of us who follow tech stocks, but Yahoo!'s profits fell to $160 million, or 11 cents a share, from $195 million, or 13 cents a year ago.
Profits down by $35 million?! Yah-ouch!
What does this mean for the rest of the tech stocks like eBay and Google? Well, my guess is that as its competitors fall, so too will the rest of the sector.
So is this, in the words of eBay, a "Buy-It-Now" item?
Well, I guess we'll just have to wait until the official announcement tomorrow after the bell. I don't know about you, but I'm not going to be holding my breath on this one.
Struggling Playboy outsources business ops
J. Crew earnings preview: A strong Q3 all buttoned up?
Twitter to make acquisitions, generate revenue in 2010
