Yahoo! Reports Second Quarter 2012 Results
Yahoo! Inc. (NASDAQ:YHOO) today reported results for the quarter ended June 30, 2012.
Revenue excluding traffic acquisition costs (“Revenue ex-TAC”) was $1,081 million for the second quarter of 2012, flat compared to the second quarter of 2011. GAAP revenue was $1,218 million for the second quarter of 2012, a 1 percent decrease from the second quarter of 2011.
Non-GAAP income from operations of $190 million in the second quarter of 2012 was flat compared to $191 million in the second quarter of 2011. Non-GAAP income from operations excludes restructuring charges and deal-related expenses of less than $1 million in the second quarter of 2011 and $136 million in the second quarter of 2012. On a GAAP basis, income from operations decreased 71 percent to $55 million in the second quarter of 2012, compared to $191 million in the second quarter of 2011.
In the second quarter of 2012, non-GAAP net earnings per diluted share increased 47 percent year over year to $0.27. Non-GAAP net earnings per diluted share excludes restructuring charges and deal-related expenses of less than $1 million in the second quarter of 2011 and $136 million, as well as the related tax impact of $36 million, in the second quarter of 2012. On a GAAP basis, net earnings per diluted share was $0.18 in the second quarter of 2012.
| Financials at a Glance | ||||||
| Quarterly Results (in millions, except percentages and per share amounts) | ||||||
| Q2 2011 | Q2 2012 | Percent Change | ||||
| Revenue ex-TAC | $1,076 | $1,081 | 0% | |||
| GAAP revenue | $1,229 | $1,218 | (1)% | |||
| Non-GAAP income from operations | $191 | $190 | 0% | |||
| Income from operations | $191 | $55 | (71)% | |||
| Non-GAAP net earnings per diluted share | $0.18 | $0.27 | 47% | |||
| Net earnings per diluted share | $0.18 | $0.18 | 2% | |||
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