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Yahoo, Inc. (YHOO) Tops Q1 EPS by 1c

April 15, 2014 4:06 PM EDT

Yahoo, Inc. (NASDAQ: YHOO) reported Q1 EPS of $0.38, $0.01 better than the analyst estimate of $0.37. Revenue for the quarter came in at $1.07 billion versus the consensus estimate of $1.08 billion.

“I am really pleased by our first quarter performance, marking our best Q1 revenue ex-TAC since 2010. Buoyed by our 9th consecutive quarter of year-over-year growth in Search revenue ex-TAC and our first quarter of Q1 year-over-year growth in display revenue ex-TAC since 2011, Q1 was an early and important sign of growth in our core business,” said Yahoo CEO Marissa Mayer. “And, with mobile pivotal to our future growth, we’re delighted to now see more than 430 million monthly mobile users accessing Yahoo’s new products.”

First Quarter 2014 Financial Highlights

Display:

  • GAAP display revenue was $453 million for the first quarter of 2014, flat compared to the first quarter of 2013.
  • Display revenue ex-TAC was $409 million for the first quarter of 2014, a 2 percent increase compared to $402 million for the first quarter of 2013.
  • The Number of Ads Sold increased approximately 7 percent compared to the first quarter of 2013.
  • Price-per-Ad decreased approximately 5 percent compared to the first quarter of 2013.

Search:

  • GAAP search revenue was $445 million for the first quarter of 2014, a 5 percent increase compared to $425 million for the first quarter of 2013.
  • Search revenue ex-TAC was $444 million for the first quarter of 2014, a 9 percent increase compared to $409 million for the first quarter of 2013.
  • Paid Clicks increased approximately 6 percent compared to the first quarter of 2013.
  • Price-per-Click increased approximately 8 percent compared to the first quarter of 2013.

Cash Balance:

  • Cash, cash equivalents, and investments in marketable securities were $4.6 billion as of March 31, 2014 compared to $5 billion as of December 31, 2013, a decrease of $0.4 billion.
  • During the first quarter of 2014, Yahoo repurchased 12 million shares for $450 million and used a net $22 million for acquisitions.

NOTE: Separately, Yahoo large holding Alibaba Group reported Q4 revenue rose 66 percent to $3.06 billion.

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



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