Shares of Yahoo! (YHOO) are up 73 cents, or 3.6%, at $21.04, after the company this afternoon reported Q4 revenue and earnings per share that topped consensus expectations.
Revenue in the three months ended in December rose 4%, year over year, to $1.22 billion, excluding Yahoo!’s cost of traffic acquisition, or “TAC,” yielding EPS of 32 cents.
Analysts had been modeling $1.21 billion and 28 cents.
Yahoo! CEO Marissa Mayer said “I’m proud of�Yahoo!’s 2012 and fourth quarter results” with “revenue growth for the first time in 4 years” for the full year.
“During the quarter we made progress by growing our executive team, signing key partnerships including those with�NBC Sports�and CBS�Television, and launching terrific mobile experiences for�Yahoo! Mail and�Flickr. At the same time, we achieved tremendous internal�transformation in the culture, energy and execution of the Company.”
Display advertising revenue in the quarter fell 5%, year over year, to $520 million, excluding TAC, on a 10% drop in “core” Yahoo! ads sold. Search revenue of $427 million rose 14%, year over year, excluding TAC, as “paid clicks” rose 11%, and by 8% from Q3′s level, and the “price per click” for each ad rose by 1%, year over year, on average, and fell by 2% compared to Q3′s level.
Yahoo!’s cash and equivalents at quarter’s end totaled $6 billion, up from $2.5 billion a year earlier, after the company spent $1.5 billion to repurchase 80 million shares of stock. Yahoo! purchased a total of 126 million shares for the full year 2012.
Yahoo! will host a conference call with analysts at 5 pm, Eastern time, and you can catch the webcast of it here.
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