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Yahoo ad revenues shrink, profit grows on Alibaba stake
2013-07-17 09:20:00| Telecompaper Headlines
(Telecompaper) Yahoo reported growth in net profit thanks to its 24 percent stake in e-commerce portal Alibaba, but lower revenues in the second quarter, as it struggled to increase advertising turnover. Overall revenue shrank by 7 percent to USD 1.14 billion from USD 1.22 billion in the second quarter of 2012. Income from operations soared 150 percent to USD 137 million from USD 55 million, and net earnings per diluted share were 68 percent higher at USD 0.30 in the latest quarter, compared to USD 0.18 a year earlier. CEO Marissa Mayer said she was encouraged by Yahoo's second quarter performance. Yahoo expects to report USD 1.06 billion to USD 1.1 billion of revenue excluding traffic acquisition costs in the current quarter and USD 4.45 billion to USD 4.55 billion in the full year. Non-GAAP operating income USD 165 million to USD 185 million and USD 900 million to USD 1 billion, respectively.
Tags: yahoo
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alibaba
Category:Telecommunications