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TheStreet Open House

Yahoo! Earnings: Blog Recap

SUNNYVALE, Calif. (TheStreet) -- Embattled Internet giant Yahoo! (YHOO) reported its second-quarter results after market close on Tuesday, although investors eager for any strategic hints from new CEO Marissa Mayer were disappointed.

Yahoo!'s CFO Tim Morse handled the company's post-earnings conference call, explaining that Mayer, on her first day at Yahoo!, would not be making an appearance. "You will be hearing from her soon," he promised.

Yahoo!'s new CEO Marissa Mayer

Later in the call Morse added that Mayer "needs time to get in, get acclimated and review the business."

The CFO also explained Yahoo!'s decision not to give guidance with its second-quarter results. "We want to give our new CEO the chance to get acclimated to Yahoo! before providing more guidance," he said.

Yahoo! surpassed Wall Street's expectations in its second-quarter results, reporting earnings of 27 cents a share on revenue of $1.081 billion, excluding traffic acquisition costs.

Analysts surveyed by Thomson Reuters expected 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.

Yahoo! shares dipped 0.26% to $15.56 in extended trading on Tuesday.

Check out TheStreet's blog recap of Yahoo!'s earnings:

--Written by James Rogers, Chris Ciaccia and Nathalie Pierrepont in New York.

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