Yahoo! Earnings: Mayer’s Turnaround Plan Pops Shares
Yahoo! Inc. (NASDAQ:YHOO) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.92%. Your Strategy Cheat Sheet to Marissa Mayer’s Yahoo>>
Yahoo! Inc. Earnings Cheat Sheet
Results: Net income decreased -4.25% to $283 million (32 cents per diluted share) in the quarter versus a net gain of $295.57 million in the year-earlier quarter.
Revenue: $1.22 billion.
Actual vs. Wall St. Expectations: Yahoo! Inc. reported adjusted net income of 32 cents per share. By that measure, the company beat the mean analyst estimate of $0.28. It beat the average revenue estimate of $1.21 billion.
Cash Highlights: Cash, cash equivalents, and investments in marketable debt securities were $6 billion at December 31, 2012 compared to $2.5 billion at December 31, 2011, an increase of $3.5 billion.
During the fourth quarter of 2012, Yahoo! repurchased 80 million shares for $1.5 billion. During the year ended December 31, 2012, Yahoo! repurchased 126 million shares for $2.2 billion.
Quoting Management: “I’m proud of Yahoo!’s 2012 and fourth quarter results. In 2012, Yahoo! exhibited revenue growth for the first time in 4 years, with revenue up 2 percent year-over-year,” said Yahoo! CEO Marissa Mayer…