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Yahoo! (YHOO) Misses Q2 EPS by 2c

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July 21, 2015 4:06 PM EDT

(Updated - July 21, 2015 4:08 PM EDT)

Yahoo! (NASDAQ: YHOO) reported Q2 EPS of $0.16, $0.02 worse than the analyst estimate of $0.18. Ex-Tac revenue for the quarter came in at $1.04 billion versus the consensus estimate of $1.03 billion.

Q2 2014 Q2 2015
GAAP revenue $1,084 million $1,243 million
Cost of revenue - TAC $44 million $200 million
Income (loss) from operations $38 million $(45) million
Non-GAAP income from operations $194 million $108 million
Adjusted EBITDA $340 million $262 million
Net earnings (loss) $270 million $(22) million
GAAP net earnings (loss) per diluted share $0.26 ($0.02)
Non-GAAP net earnings per diluted share $0.37 $0.16

Search Revenue:

  • Gross search revenue was $920 million for the second quarter of 2015, an increase of 15 percent compared to the second quarter of 2014.
  • GAAP search revenue was $521 million for the second quarter of 2015, an increase of 22 percent compared to the second quarter of 2014.
  • Cost of revenue -TAC paid to search partners was $106 million for the second quarter of 2015 compared to less than $1 million in the second quarter of 2014.
  • The number of Paid Clicks increased approximately 13 percent compared to the second quarter of 2014.
  • Price-per-Click increased approximately 4 percent compared to the second quarter of 2014.

Display Revenue:

  • GAAP display revenue was $500 million for the second quarter of 2015, a 15 percent increase compared to the second quarter of 2014.
  • Cost of revenue - TAC paid to display partners was $94 million for the second quarter of 2015 compared to $42 million in the second quarter of 2014.
  • The number of Ads Sold increased approximately 9 percent compared to the second quarter of 2014.
  • Price-per-Ad increased approximately 10 percent compared to the second quarter of 2014.

Cash, Cash Equivalents, and Marketable Securities:

  • Cash, cash equivalents, and marketable securities were $7.0 billion as of June 30, 2015 compared to $10.2 billion as of December 31, 2014, a decrease of $3.2 billion. In the first quarter of 2015, the Company satisfied the $3.3 billion income tax liability related to the sale of Alibaba Group ADSs in 2014.

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


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