Yahoo Earnings, Revenue Beat Wall Street's Expectations
Yahoo reported quarterly earnings and revenue that beat analysts' expectations on Monday in the Internet giant's first earnings report with new Chief Executive Marissa Mayer at the helm.
After the earnings announcement, Yahoo shares ose in trading after the closing bell. (Click here to get the latest quotes for Yahoo.)
"Yahoo had a solid third quarter, and we are encouraged by the stabilization in search and display revenue," Mayer said in the earnings release. "We're taking important steps to position Yahoo for long-term success, and we're confident that our focus on quality and improving the user experience will drive increased value for our advertisers, partners and shareholders."
Excluding a $2.8 billion gain related to the sale of Alibaba Group shares, Yahoo said it earned $177 million, or 35 cents per share, up from $175 million, or 21 cents in the year-earlier period.
Revenue, which excludes fees paid to partner websites, increased 2 percent to $1.09 billion from $1.07 billion a year ago.