Accounting rule hurts Yahoo earnings

Accounting rule hurts Yahoo earnings

Internet giant’s quarterly results hit

The adoption of a new accounting rule by internet icon Yahoo has cost it $65m
(£34m) more this year than at the same time in 2005, the company reported

In reporting its income for the first quarter of 2006, Yahoo deducting the
cost of expensing its employee stock options, a controversial new accounting
rule already used by companies like Coca Cola and Amazon.

Yahoo said net income for the first three months of the year fell to $160m
(£90m), from $204.6m the previous year.

Without the changes it would have reported an 18% rise in first quarter
earnings.

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