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When Yahoo’s Shares Are Hammered 12% Because A Drop In Auto Advertising Hurts 3rd Quarter Ad Revenue Forecasts Then You Begin To Understand The Enormity Of The $750 Million Tip Of The Print Auto Iceberg
Philip M. Stone - September 20, 2006
A $750 million drop in US auto print advertising this year by domestic and foreign auto companies has already hit bottom lines with double-digit percentage revenue declines at most newspapers and generalist magazines, but the prevailing view was that print’s loss was the Internet’s gain. So when Yahoo announced that a slight drop in auto and financial advertising would adversely affect its 3rd quarter revenue forecasts Wall Street went into a tizzy.
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