Yahoo Tops Wall Street's Profit View; Shares Jump
Yahooreported earnings Tuesday that topped analysts' expectations, causing shares to jump in after-hours trading.
The online search and advertising company reported first-quarter earnings of 17 cents a share, compared with 22 cents a share in the year ago period.
Revenue, excluding traffic-acquisition costs, came in at $1.06 billion, versus $1.13 billion last year.
Traffic-acquisition costs (TAC) include money that Web sites pay to advertisers and that they spend to draw traffic. Analysts factor TAC into their revenue estimates.
Analysts' forecasts on average were expecting earnings of 16 cents a share on revenue of $1.06 billion, according to data from Thomson Reuters.
Looking forward, Yahoo projected net revenue between $1.08 billion and $1.13 billion in the second quarter. Analysts were looking for $1.1 billion.
Shares of Yahoo were higher in extended trading. Get after-hour quotes for Yahoo here.
The stock closed down 1.38 percent to end at $16.12.