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Yahoo! Reports Third Quarter 2012 Results

Stocks in this article: YHOO

Yahoo! Inc. (NASDAQ: YHOO) today reported results for the quarter ended September 30, 2012.

Revenue excluding traffic acquisition costs (“Revenue ex-TAC”) was $1,089 million for the third quarter of 2012, a 2 percent increase compared to the third quarter of 2011. GAAP revenue was $1,202 million for the third quarter of 2012, a 1 percent decrease from the third quarter of 2011.

Excluding restructuring charges for both years, operating income on a non-GAAP basis was $177 million in the third quarter of 2012 compared to $175 million in the third quarter of 2011. On a GAAP basis, income from operations decreased 14 percent to $152 million in the third quarter of 2012, compared to $177 million in the third quarter of 2011.

In the third quarter of 2012, non-GAAP net earnings per diluted share increased 66 percent year over year to $0.35. Non-GAAP net earnings per diluted share for the third quarter of 2012 excludes a net gain of $2.8 billion related to the sale of Alibaba shares and restructuring charges of $16 million, net of tax. On a GAAP basis, net earnings per diluted share was $2.64 in the third quarter of 2012, compared to $0.23 in the third quarter of 2011.

Financials at a Glance

Quarterly Results (in millions, except percentages and per share amounts)
    Q3 2011   Q3 2012   Percent Change
Revenue ex-TAC   $1,072   $1,089   2%
GAAP revenue   $1,217   $1,202   (1)%
Non-GAAP income from operations   $175   $177   1%
GAAP income from operations   $177   $152   (14)%
Non-GAAP net earnings per diluted share   $0.21   $0.35   66%
GAAP net earnings per diluted share   $0.23   $2.64   N/M

N/M – Not meaningful

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