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Investing

Yahoo! Plugging Along… Sort Of (YHOO)

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By Douglas A. McIntyre Published

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Yahoo! Inc. (NASDAQ: YHOO) gave earnings after the close today that really offers no great jumping point on the first look for new buy-ins nor for new sell-outs.  The number-two search provider said that advertising weakness lifted in the last quarter and it posted $0.11 EPS, but said that it would have made $0.15 EPS had it not been for certain charges.  Revenue on an ex-TAC basis fell to $1.26 billion versus $1.38 billion a year ago.  Thomson Reuters had estimates pegged at $0.11 EPS and $1.23 billion in revenues.  Total revenue including traffic acquisition costs fell by just over 4% to $1.73 billion, above its forecast of $1.6 billion to $1.7 billion offered a quarter ago. The revenue figure was down 8.5% on an ex-TAC basis.

These charges were due to its deal with Microsoft and due to restructuring items, so you will have to decide for yourself how much these should be considered ‘one time items’ as the company claims.

Company owned and operated ad display revenues grew 26%, while the same set of search ad revenues rose 4%.  Its marketing services revenue was down 4% and fee revenue was down 7%.

The company gave guidance for the current quarter of $1.575 billion to $1.675 billion with income from operations of $90 million to $110 million.

Yahoo! closed up 0.8% at $15.99.  The stock initially fell 2% but shares at 4:35 PM EST are up 1% at $16.15 in the after-hours session.  Unfortunately, today and tomorrow may depend more upon Carol Bartz’ body language and tone  more than upon the review of data and advertising.

JON C. OGG

Contact [email protected] for any questions or corrections.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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