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Yahoo! Reports First Quarter 2012 Results

Yahoo! Inc. (NASDAQ:YHOO) today reported results for the quarter ended March 31, 2012.

Revenue excluding traffic acquisition costs (“revenue ex-TAC”) was $1,077 million for the first quarter of 2012, a 1 percent increase from the first quarter of 2011. Income from operations decreased 11 percent to $169 million in the first quarter of 2012, compared to $190 million in the first quarter of 2011.

GAAP revenue was $1,221 million for the first quarter of 2012, a 1 percent increase from the first quarter of 2011.

Net earnings per diluted share increased 38 percent to $0.23 in the first quarter of 2012, compared to $0.17 in the first quarter of 2011.

Financials at a Glance

Quarterly Results (in millions, except percentages and per share amounts)
    Q1 2011   Q1 2012   Percent Change
Revenue ex-TAC   $1,064   $1,077   1%
GAAP revenue   $1,214   $1,221   1%
Income from operations   $190   $169   (11)%
Net earnings   $223   $286   28%
Net earnings per diluted share   $0.17   $0.23   38%

“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 Scott Thompson, CEO of Yahoo!. “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.”

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