Focus on Yahoo! Assets and Plans Over Past Earnings (YHOO)

By Jon C. Ogg Updated Apr 27, 9:30PM EDT · Published Jan 24, 4:16PM EST

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Yahoo! Inc. (NASDAQ: YHOO) earnings are out and we again stress that the focus needs to be on the company’s strategy for the next year or two rather than just how many holes are in the trailing earnings. Jerry Yang is out, more departures are likely, operating costs have been cut, and we are looking for more long-term guidance on how the company can monetize its foreign assets of Alibaba and Yahoo! Japan. Despite the focus on the future, it does at least need to be known that this appears to be the twelfth or thirteenth consecutive quarterly report where Yahoo! was light on its revenues.

The earnings are $0.25 adjusted earnings per share on $1.17 billion in sales if you back out the traffic acquisition costs. Revenue display outside of TAC was down marginally at $546 million and search revenue was $465 million on an ex-TAC basis.

As far as guidance, Revenue on an ex-Traffic acquisition cost basis is now expected to be in the range of $1.025 to $1.105 billion versus estimates of $1.078 billion.

Yahoo! shares closed up $0.01 at $15.69, its after-hours reaction has shares down about 1.4% at $15.69 and the 52-week trading range is $11.09 to $18.84.

JON C. OGG

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About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.