Yahoo results beat Street estimates
The company sees revenue rise in 2012 for the first time since 2008. Yahoo expects to invest in its properties, with payoff beginning in the second half of 2013.
At the same time, the company reported a small gain in revenue net of traffic acquisition costs (TACs), or payments to advertisers, for the fourth quarter and the year. The gains were the first after three straight yearly declines.
Shares were up 28 cents to $20.59. The shares had traded to $21.30 before dropping back below $21, If the gain holds on Tuesday, it would be a 52-week high and the highest price for the shares since 2008.
The relatively bullish report was the first for a full quarter since Marissa Mayer became CEO in mid-July after leaving Google (GOOG). Yahoo shares closed at $20.31 in regular trading, down 6 cents. The shares are up 29.8% since Mayer became CEO on July 16.
Yahoo earned 32 cents a share on revenue of $1.22 billion net of TAC costs of payments to advertisers. Revenue was up 7% from a year ago.The earnings include 9 cents a share of restructuring costs and costs associated with shutting down its Korean business. Including those charges cut the earnings to 23 cents, compared with 24 cents a year ago.
If there were issues with Yahoo's report it was in display advertising. Revenue after traffic acquisition costs was down 4.8% to $520 million. But the company made that up with a 13.6% gain in search revenue to $427 million.
Revenue grew 8.1% to $940 million in the Americas during the quarter while revenue from Europe was lower and Asia was up slightly.
For the first quarter, Yahoo expects $1.07 billion to $1.16 billion in revenue net of traffic acquisition costs. That's up slightly from a year ago. The company expects to invest in its properties. That should start to show gains in the second half of the year.
More on moneyNOW
Copyright © 2013 Microsoft. All rights reserved.
Quotes are real-time for NASDAQ, NYSE and AMEX. See delay times for other exchanges.
Fundamental company data and historical chart data provided by Thomson Reuters (click for restrictions). Real-time quotes provided by BATS Exchange. Real-time index quotes and delayed quotes supplied by Interactive Data Real-Time Services. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by SIX Financial Information.
While incompetent bosses like Michael Scott and Andy Bernard typically can’t survive in the workplace, office romances are a very real part of corporate culture.
- Southwest Airlines turns less legroom into $773M
- 'American Idol' gets sorry ratings for season finale
- Powerball's wacky sense of humor
- Millions of Facebook's users are actually pets
- Can crowd funding rescue the LA Times?
- Domino's debuts a DVD that smells like pizza
- Average US retirement age climbs to 61
- McDonald's aims to slim down its 145-item menu
- Bathroom reading goes digital with iPad TP stand
[BRIEFING.COM] The S&P 500 ended this week with a bang, roaring to a new all-time high on the back of stronger-than-expected economic data, influential leadership, and an ongoing appreciation for the Fed's monetary policy support.
The bullish bias was evident in premarket action as the S&P futures pointed to a higher start without the benefit of any definitive news catalyst. Stocks indeed benefited from a blast of buying interest at the opening bell on this ... More
More Market News
All hail the bull market, which ended the week with a big rally. But it also is starting to look a little like 1987, which suffered an epic blow-out.