Yahoo! (YHOO) Misses Q1 EPS by 3c; Display Revenue Fell 7%, Ex. TAC

Yahoo! (NASDAQ: YHOO) reported Q1 EPS of $0.15, $0.03 worse than the analyst estimate of $0.18. Revenue for the quarter came in at $1.13 billion versus the consensus estimate of $1.06 billion.

Search Revenue:

• Gross search revenue was $956 million for the first quarter of 2015, an increase of 20 percent compared to the first quarter of 2014.
• GAAP search revenue was $532 million for the first quarter of 2015, an increase of 20 percent compared to the first quarter of 2014. Search revenue from the Mozilla traffic is being recognized on a gross basis as a result of the terms of the agreement, therefore increasing GAAP revenue and also increasing TAC.
• Search revenue ex-TAC was $432 million for the first quarter of 2015, a decrease of 3 percent compared to the first quarter of 2014.
• The number of Paid Clicks increased approximately 21 percent compared to the first quarter of 2014.
• Price-per-Click increased approximately 3 percent compared to the first quarter of 2014.

Display Revenue:

• GAAP display revenue was $464 million for the first quarter of 2015, a 2 percent increase compared to the first quarter of 2014.
• Display revenue ex-TAC was $381 million for the first quarter of 2015, a 7 percent decrease compared to the first quarter of 2014.
• The number of Ads Sold increased approximately 29 percent compared to the first quarter of 2014.
• Price-per-Ad decreased approximately 17 percent compared to the first quarter of 2014.

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

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