Yahoo! (NASDAQ: YHOO) posted earnings within expectations, and its shares barely moved. The announcement came just after Marissa Mayer was named as Chief Executive Officer.
For the quarter which ended June 30, revenue excluding traffic acquisition costs was $1,081 million for the period, flat compared to the second quarter of 2011. GAAP revenue was $1,218 million for the second quarter of 2012, a 1% decrease from the second quarter of 2011.
On a GAAP basis, income from operations decreased 71% to $55 million in the second quarter of 2012, compared to $191 million in the second quarter of 2011.
On a GAAP basis, net earnings per diluted share was $0.18 in the second quarter of 2012.
The company said the the following were the key developments of the quarter
— Display revenue ex-TAC was $473 million, a 1 percent increase compared to $467 million for the second quarter of 2011.
— GAAP display revenue was $535 million, a 2 percent increase compared to $524 million for the second quarter of 2011.
— Search revenue ex-TAC was $385 million, a 4 percent increase compared to $371 million for the second quarter of 2011.
— GAAP search revenue was $461 million, a 1 percent decrease compared to $467 million for the second quarter of 2011
Yahoo! has traded in a range between $15 and $15.50 for most of the last three months
Douglas A. McIntyre
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