Yahoo! Slightly Beats The Streets This Quarter
Yahoo! Inc. has beat Wall Street’s estimates in their first quarter earnings report today with revenues of $1.08 billion. This is a 28% gain from a year ago. Analysts were expecting Yahoo! to report revenues of $1.06 billion.
Revenue is only up year-over-year by 1%. The EMEA region was down 27%, which is being run by Rich Riley. Riley is now Yahoo!’s sales lead in the U.S. Eve though display revenue was down, search revenue was up. Yahoo!’s unique visitors are up 7%. Media is up strongly, but the declines are in search and communications.
Analysts and investors are looking to gain additional information from Yahoo! CEO Scott Thompson today. Analysts are wondering what is happening in the company’s search deal with Microsoft and talks about selling off their stake in Alibaba. They also want to know about Yahoo!’s patent lawsuit against Facebook and how to handle a proxy challenge by activist shareholder Third Point.
“In the first quarter, Yahoo!’s results came in at the high end of our guidance range and beat consensus on revenue and profits,” said Thompson in a statement. “We also made changes to resize the organization and establish a new leadership structure to quickly deliver the best user and advertiser experiences at scale.”This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry