Yahoo Inc Earnings: Jumping Over a Low Bar, Shares Pop
Yahoo Inc. (NASDAQ:YHOO) reported third quarter earnings today, beating analysts estimates with $0.21 earnings per share versus $0.17. Revenue for the third quarter meet analysts expectations at $1.07 billion.
Looking at the current quarter, the company projects revenue from $1.13 billion to $1.24 billion, below the $1.22 billion average estimates.
In response to the report, Tim Morse, CFO and Interim CEO, Yahoo (NASDAQ:YHOO) said,
“We’re pleased that revenue, operating income and EPS were all above consensus this quarter,” said Tim Morse, CFO and Interim CEO,Yahoo!. “My focus, and that of the whole company, is to move the business forward with new technology, partnerships, products, and premium personalized content — all with an eye toward growing monetization.”
Prior to its earnings report, Yahoo (NASDAQ:YHOO) has been in the news with rumors swirling about its future. They include co-founder Jerry Yang taking the company private; Chinese e-commerce company Alibaba buying the company and a group from Microsoft (NASDAQ:MSFT) to AOL (NYSE:AOL) getting involved.
Yahoo’s (NASDAQ:YHOO) stock is up 3.5% to $16.01 on the news. Shares are down 6.98% year to date. The stock has traded in a 52-week range between $11.09 and $18.84.