09-21-2006, 10:30 AM
Quote:A slowing U.S. economy may already be impacting Yahoo Inc.'s Web advertising sales growth, the head of the company said Tuesday, a trend that does not bode well for other ad-supported Internet sites.
"We're seeing some slowing in perhaps two of the largest sectors, both autos and financial services," said Terry Semel, chairman and chief executive officer (CEO) of Yahoo, in response to questions at a Goldman Sachs conference.
Advertising sales from both sectors have slowed down during the past three to four weeks, although both remain on a growth track. "They're growing, but they're not growing as quickly as we would have hoped at this moment in time," said Semel.
The comments sparked a sell-off in Yahoo shares...
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