Yahoo! (YHOO) Takes $4.46B Non-Cash Goodwill Impairment Charge on Tumblr, Etc.
Get Alerts YHOO Hot Sheet
Join SI Premium – FREE
Yahoo! (NASDAQ: YHOO) disclosed it recorded a $4,461 million non-cash goodwill impairment charge as a result of annual goodwill impairment test conducted in the fourth quarter of 2015.
"We concluded that the carrying value of our U.S. & Canada, Europe, Latin America and Tumblr reporting units exceeded their respective estimated fair values. The goodwill impairment resulted from a combination of factors, including decreases in our market capitalization, projected operating results and estimated future cash flows."
In 2013, Yahoo! acquired Tumblr for $1.1 billion.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Business First Bancshares Inc. (BFST) to acquire Oakwood Bancshares
- T-Mobile posts mixed Q1 top and bottom line, expects more subscribers in 2024
- Masonite (DOOR) Shareholders Approve Transaction with Owens Corning (OC)
Create E-mail Alert Related Categories
Corporate News, Mergers and AcquisitionsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!