So Far, 2010 Results Show More of the Same

Earnings results from global Yellow Pages companies are starting to trickle in, and so far, 2010 looks a lot like 2009, or worse.

AT&T Advertising Solutions posted first-half revenues of US$2,048 million, down 16.7 percent from the same period in 2009. At the same point in 2009, revenues were down 11.5 percent. The company reported that in the second quarter, Internet revenues grew by 8.7 percent to US$237 million.

Across the ocean, the Nordic directory company Eniro reported groupwide revenues of SEK 2,709 million in the first half of 2010, down 13 percent from a year earlier.

Like most global directory companies, Eniro recently stopped breaking out print versus online revenues. The company currently breaks down revenues by “directories Scandinavia,” which means Denmark, Norway and Sweden, then groups together Finland and Poland. The Scandinavia segment accounted for SEK 1,892 million in the first half and was down 14 percent, while Finland and Poland together accounted for SEK 471 million, also down 14 percent. “Voice Scandinavia” (Eniro’s DA business) fared better, dropping 3 percent to SEK 346 million.

More earnings will be coming out in the next few weeks. PagesJaunes Groupe, for example, reports its earnings next Wednesday.

The Kelsey Report will summarize all the industry’s first-half results in an August report.