MARISSA MAYER STOPS THE BLEEDING: Yahoo Beats Expectations With Q3 Earnings
AP
Yahoo beat expectations on both the bottom and top lines.
After traffic aquisition costs, revenues for the quarter were $1.09 billion, a 1% increase from the third quarter a year ago.
Yahoo's earnings per share for the quarter were $0.52, soundly thumping expectations of $0.33.
It helped that Yahoo bought a lot of its own stock during the quarter. First it repurchased approximately 8 million shares of its common stock for $282 million during the quarter. Then it bought another 23.5 million shares from an unnamed financial institution.
Yahoo stock is up 3% in after-hours trading.
The numbers, in brief:
- EPS: $0.52 vs. $0.33 EPS estimate.
- Revenue: $1.09 billion vs. $1.04 billion estimate. That's 1% growth y/y.
- Search revenue ex-TAC $450 million, up 4% y/y.
- Display revenue ex-TAC $396 million, down 5% y/y.
- Mobile GAAP revenues were $200 million.
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