Yahoo Q2 earnings fall before Mayer CEO appointment begins

Jul 17, 2012
0

This afternoon Yahoo announced their quarterly earnings as being just 4.2 percent down from what they'd posted a year ago as Marissa Mayer begins her first full day of work as the company's CEO. This appointment was made public earlier this week with today's earnings call looming. The company announced also that revenue declined slightly to $1.22 billion this quarter, though many expectations under-shot the possibilities for the company at the start of this month.

In a report from Capital IQ posted earlier this week on Wall Street analysis for this quarter's earnings, Yahoo was projected to be at 20 cents a share and having revenue of $1.1 billion USD. Instead they've posted, again, $1.22 billion for revenue and a per-share net income of 27 cents a share. Non-GAAP earnings per share pushed forward with several partnerships announced throughout the quarter, and re-stated today by Yahoo's chief financial officer Tim Morse:

“We also moved aggressively with new strategic agreements with Alibaba and Facebook and announced several new partnerships including CNBC, Clear Channel and Spotify." - Morse

This of course was all slightly less than engaging in the face of the real news, that being Yahoo's expectations for Mayer. After bringing the heat to Google for 13 years, starting as an engineer and working her up to 20th position from the top, Mayer has a lot to live up to. She very well may be beginning in getting Yahoo's advertising business back on its feed, with Facebook beating the market at 16.8 percent alongside Google with 16.5 percent while Yahoo sits a bit lower at 9.1 percent. Yahoo's share in 2008 of the online advertising market was 18.4 percent.

[via NYTimes]


Must Read Bits & Bytes