Yahoo! Tops Wall Street Profit View
NEW YORK (TheStreet) -- Yahoo! (YHOO) surpassed Wall Street's expectations with its second-quarter earnings late Tuesday, sending shares slightly higher in after-hours action.
The Sunnyvale, Calif.-based Internet giant reported a non-GAAP profit of $190 million, or 27 cents a share, on revenue excluding traffic acquisition costs of $1.081 billion for the three months ended in June.
Analysts polled by Thomson Reuters expect Yahoo! to report earnings of 23 cents a share on $1.095 billion in revenue. Independent analysts polled by Estimize were looking for a profit of 22 cents a share on $1.085 billion in revenue. Analysts estimates usually exclude TAC.
Yahoo! said display revenue rose in the latest quarter to $473 million, a 1% increase year-over-year. Search revenue excluding TAC also rose, up 4% year-over-year to $385 million.
"In the second quarter, non-GAAP earnings per share exceeded consensus and both display and search revenue ex-TAC showed modest growth," said Yahoo! CFO Tim Morse in a press release. "We also moved aggressively with new strategic agreements with Alibaba and Facebook and announced several new partnerships including CNBC, Clear Channel and Spotify." The results come a day after Yahoo! named Marissa Mayer, a former Google (GOOG) executive, as its new CEO. The company plans to hold a conference call at 5 p.m. to discuss the results. Shares of Yahoo! closed the regular session down 0.22% to $15.61. The stock was last quoted at $15.71, up 11 cents, on volume of more than 270,000, according to Nasdaq.com. Interested in more on Yahoo!? See TheStreet Ratings' report card for this stock. Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices. --Written by Chris Ciaccia in New York >Contact by Email. Follow @Commodity_BullSelect the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Dividend Stock Advisor
TRY IT FREENew! $49.95/yr
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Product Features:
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Real Money
TRY IT FREE24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
Product Features:
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
Real Money Pro
TRY IT FREEAll of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV
