LIVE: Yahoo Hits Earnings, Stock Soars As Yahoo Will Spin Alibaba Stake Off
REUTERS/Ruben Sprich
Earnings were more or less right on target with analysts' expectations:
- EPS of $0.30 vs. analysts expectations of $0.29. Last quarter Yahoo blew analysts' expectations away -- not so this time.
- Revenue (minus traffic costs) of $1.18 billion, slightly less than analysts' expectations of $1.19 billion.
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Top line growth was important as revenue has basically been declining since 2009. The fourth quarter is usually Yahoo's biggest, but it dropped slightly from last year.
Now that Alibaba is public and that chapter of Yahoo's history is basically closed, why should investors buy Yahoo today? Mayer hasn't given a convincing explanation yet, and the company's performance remains flat in its core businesses, but she has another chance on Yahoo's earnings call later today. We'll be updating this post as we hear more.
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