Can Yahoo Head Higher After Earnings?
T = Trends for a Stock’s Movement
Yahoo is a technology company that provides search, content, and communication tools on the web and on mobile devices worldwide. It operates Yahoo.com, which offers Yahoo Search, Yahoo News, Yahoo Sports, Yahoo Finance, Yahoo Entertainment and Lifestyles, and Yahoo Video. Being such a large content provider, Yahoo is able to reach a significant amount of consumers across the globe. As the internet attracts an increasing number of participants, look for Yahoo to continue to be a major player.
Yahoo reported third quarter earnings after the bell on Tuesday, and the company’s net revenue was down due to ad revenue, which fell 7 percent year over year. There is still a lot of optimism for Yahoo surrounding the company’s investment in Chinese e-commerce giant Alibaba, which is planning an IPO. During the earnings call, Yahoo announced that it would sell fewer shares than originally planned when Alibaba goes public, which will allow it to capitalize on its investment if Alibaba’s shares rise post-IPO, Reuters reports.