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Update: Yahoo! Sees 2001 Revenue Falling Short of Estimates

Other Internet heavyweights get caught in the company's downdraft in extended-hours trading.
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Updated from 4:52 p.m. ET

Yahoo!

(YHOO)

reported fourth-quarter earnings that met analysts' expectations, but revenue fell short of the figure Wall Street wanted.

Then the company really went for broke. For 2001, the company projected earnings of 33 cents to 43 cents a share on revenue of $1.2 billion to $1.3 billion. Yahoo! forecast first-quarter earnings of 4 cents to 7 cents a share. According to

First Call/Thomson Financial

, analysts are expecting earnings of 13 cents a share for the first quarter, and a profit of 57 cents a share on revenue of $1.42 billion for the year.

Market watchers were expecting the Santa Clara, Calif., Internet media and content company to earn 13 cents a share for the fourth quarter, according to First Call, and Yahoo! didn't disappoint in that regard, hitting the number on the head. The company earned 9 cents a share in the year-ago period.

Shares of Yahoo! closed the

Nasdaq

regular session at $30.50, but rose to $30.94 in after-hours activity on

Island

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before being halted. After being released for trading, Yahoo! tumbled to $24.56. Other well-known Internet players also skidded in extended trading. Online auctioneer

eBay

(EBAY) - Get eBay Inc. Report

, which closed at $39.31, fell to $35.69.

America Online

(AOL)

ended the regular session at $44.89, but slipped to $43.75. Internet advertising concern

DoubleClick

(DCLK)

, which will report earnings tomorrow, traded at $10.38, after closing at $12.44 at 4 p.m.

Yahoo! said total fourth-quarter revenue rose 53% to $310.9 million from $203.1 million in the same period a year ago. Analysts were looking for revenue of $315.1 million. The company reported a top line of $295.6 million in the latest third quarter.

The company said its global audience rose to 180 million unique users in December from 120 million a year ago. The company said 60 million registered members used Yahoo! in December, almost double the total from last year.