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Yahoo! (YHOO) Tops Q3 EPS by 22c

October 21, 2014 4:05 PM EDT

Yahoo! (NASDAQ: YHOO) reported Q3 EPS of $0.52, $0.22 better than the analyst estimate of $0.30. Revenue for the quarter came in at $1.08 billion versus the consensus estimate of $1.04 billion.

We had a good, solid third quarter. We delivered $1.094 billion in revenue ex-TAC and $1.148 billion in GAAP revenue. This represents 1% growth in revenue ex-TAC and 1% growth in GAAP revenue. We achieved this revenue growth through strong growth in our new areas of investment – mobile, social, native and video - despite industry headwinds in some of our large, legacy businesses,” said Marissa Mayer, CEO of Yahoo. “I am also pleased to report today that our revenue in mobile is now material. In Q3, we saw mobile revenues in excess of $200 million on a GAAP basis. Further, we estimate that our gross revenues in mobile will exceed $1.2 billion in revenue this year. We have invested deeply in mobile and we are seeing those investments pay off. Not only are our mobile products attracting praise and engagement from users and industry awards, they are generating meaningful revenue for Yahoo.”

Third Quarter 2014 Financial Highlights

Display:

  • GAAP display revenue was $447 million for the third quarter of 2014, a 5 percent decrease compared to $470 million for the third quarter of 2013.
  • Display revenue ex-TAC was $396 million for the third quarter of 2014, a 6 percent decrease compared to $421 million for the third quarter of 2013.
  • The number of Ads Sold increased approximately 24 percent compared to the third quarter of 2013.
  • Price-per-Ad decreased approximately 24 percent compared to the third quarter of 2013.

Search:

  • GAAP search revenue was $452 million for the third quarter of 2014, a 4 percent increase compared to $435 million for the third quarter of 2013.
  • Search revenue ex-TAC was $450 million for the third quarter of 2014, a 6 percent increase compared to $426 million for the third quarter of 2013.
  • The number of Paid Clicks was flat compared to the third quarter of 2013.
  • Price-per-Click increased approximately 17 percent compared to the third quarter of 2013.

For earnings history and earnings-related data on Yahoo! (YHOO) click here.



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