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Yahoo!'s Candor Greeted Rudely by Street
Updated from 1:10 p.m. EDT
Yahoo! (YHOO Quote) just got a good look at the hazards of providing accurate guidance to Wall Street.
Just one quarter after the Sunnyvale, Calif., Net media giant ignited a wild rally by outshining the most bullish forecasts, investors this week were rubbing their hands together in anticipation of a repeat performance.
The problem, it seems, is that Yahoo! responded to its first-quarter surprise by supplying forecasts it deemed more realistic. Thus, when the company posted results late Wednesday that were strong by any normal yardstick -- revenue up 90%, earnings double the year-ago -- investors pummeled Yahoo! for snubbing their guidance-beating ritual. ...
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