MARISSA MAYER STOPS THE BLEEDING: Yahoo Beats Expectations With Q3 Earnings
APMarissa Mayer speaks at the Cannes Lions International Festival of CreativityYahoo just reported third quarter earnings and the news is that, for now, Marissa Mayer has stopped the bleeding.
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.