Yahoo hauls in a boatload of cash

Yahoo has reported a total net income of $186 million this quarter, up an astounding 244% from last quarter when it netted $54 million. This comes largely because Yahoo cut costs but nevertheless shows how tech companies and raking in the cash in this recession.

Yahoo's surge in profit comes after some major budget trimming, and despite the company's handsome bottom line, its revenue is still falling. Yahoo recorded revenue of $1.6 billion in the third quarter, down 12% year-over-year, and excluding traffic acquisition costs revenue was $1.1 billion. 

Now considering all the issues surrounding Yahoo (i.e. their outsourcing of search engine duties to Microsoft) it seems like a good sign that the company is able to haul in profit at a decent margin. We'll see how this plays out in the coming quarters.