You are here: Home » Reuters » News
Business Standard

Yahoo profit beats as emerging businesses shine

Reuters 

(Reuters) - Yahoo Inc reported better-than-expected quarterly adjusted profit on Tuesday, positive news for the beleaguered company whose deal to sell its core business to Verizon Communications Inc has been shaken by a massive data breach.

Verizon's general counsel said last week that the hack, which affected at least 500 million email accounts in 2014, could have a material impact, possibly allowing Verizon to withdraw from the $4.83 billion deal.

Revenue from Mavens - the mobile, video, native and social advertising units that Chief Executive Marissa Mayer touts as its emerging businesses - rose 24.2 percent to $524 million.

Gross search revenue fell 14.1 percent to $752.5 million.

Yahoo's shares were up marginally in extended trading.

Verizon plans to combine Yahoo's search, email and messenger assets as well as advertising technology tools with its AOL unit, which it bought last year for $4.4 billion.

The deal would transform Yahoo into a holding company, with a 15 percent stake in Chinese e-commerce company Alibaba Group Holding Ltd and a 35.5 percent interest in Yahoo Japan Corp <4689.T> as well as Yahoo's convertible notes, certain minority investments and its non-core patents.

The deal is expected to close in early 2017, after which Yahoo plans to change its name and become a publicly traded investment company.

Yahoo's revenue rose 6.5 percent to $1.31 billion in the third quarter ended Sept. 30, beating the average analyst estimate of $1.30 billion, according to Thomson Reuters I/B/E/S.

After deducting fees paid to partner websites, revenue fell to $857.7 million from $1 billion.

Net income attributable to Yahoo rose to $162.8 million, or 17 cents per share, from $76.3 million, or 8 cents per share, a year earlier.

Excluding items, the company earned 20 cents per share, beating the average estimate of 14 cents.

Yahoo said on Friday it would not hold a call or webcast after the release of the results, citing the Verizon deal.

(Reporting by Anya George Tharakan in Bengaluru; Editing by Don Sebastian)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

RECOMMENDED FOR YOU

Yahoo profit beats as emerging businesses shine

(Reuters) - Yahoo Inc reported better-than-expected quarterly adjusted profit on Tuesday, positive news for the beleaguered company whose deal to sell its core business to Verizon Communications Inc has been shaken by a massive data breach.

(Reuters) - Yahoo Inc reported better-than-expected quarterly adjusted profit on Tuesday, positive news for the beleaguered company whose deal to sell its core business to Verizon Communications Inc has been shaken by a massive data breach.

Verizon's general counsel said last week that the hack, which affected at least 500 million email accounts in 2014, could have a material impact, possibly allowing Verizon to withdraw from the $4.83 billion deal.

Revenue from Mavens - the mobile, video, native and social advertising units that Chief Executive Marissa Mayer touts as its emerging businesses - rose 24.2 percent to $524 million.

Gross search revenue fell 14.1 percent to $752.5 million.

Yahoo's shares were up marginally in extended trading.

Verizon plans to combine Yahoo's search, email and messenger assets as well as advertising technology tools with its AOL unit, which it bought last year for $4.4 billion.

The deal would transform Yahoo into a holding company, with a 15 percent stake in Chinese e-commerce company Alibaba Group Holding Ltd and a 35.5 percent interest in Yahoo Japan Corp <4689.T> as well as Yahoo's convertible notes, certain minority investments and its non-core patents.

The deal is expected to close in early 2017, after which Yahoo plans to change its name and become a publicly traded investment company.

Yahoo's revenue rose 6.5 percent to $1.31 billion in the third quarter ended Sept. 30, beating the average analyst estimate of $1.30 billion, according to Thomson Reuters I/B/E/S.

After deducting fees paid to partner websites, revenue fell to $857.7 million from $1 billion.

Net income attributable to Yahoo rose to $162.8 million, or 17 cents per share, from $76.3 million, or 8 cents per share, a year earlier.

Excluding items, the company earned 20 cents per share, beating the average estimate of 14 cents.

Yahoo said on Friday it would not hold a call or webcast after the release of the results, citing the Verizon deal.

(Reporting by Anya George Tharakan in Bengaluru; Editing by Don Sebastian)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Yahoo profit beats as emerging businesses shine

(Reuters) - Yahoo Inc reported better-than-expected quarterly adjusted profit on Tuesday, positive news for the beleaguered company whose deal to sell its core business to Verizon Communications Inc has been shaken by a massive data breach.

Verizon's general counsel said last week that the hack, which affected at least 500 million email accounts in 2014, could have a material impact, possibly allowing Verizon to withdraw from the $4.83 billion deal.

Revenue from Mavens - the mobile, video, native and social advertising units that Chief Executive Marissa Mayer touts as its emerging businesses - rose 24.2 percent to $524 million.

Gross search revenue fell 14.1 percent to $752.5 million.

Yahoo's shares were up marginally in extended trading.

Verizon plans to combine Yahoo's search, email and messenger assets as well as advertising technology tools with its AOL unit, which it bought last year for $4.4 billion.

The deal would transform Yahoo into a holding company, with a 15 percent stake in Chinese e-commerce company Alibaba Group Holding Ltd and a 35.5 percent interest in Yahoo Japan Corp <4689.T> as well as Yahoo's convertible notes, certain minority investments and its non-core patents.

The deal is expected to close in early 2017, after which Yahoo plans to change its name and become a publicly traded investment company.

Yahoo's revenue rose 6.5 percent to $1.31 billion in the third quarter ended Sept. 30, beating the average analyst estimate of $1.30 billion, according to Thomson Reuters I/B/E/S.

After deducting fees paid to partner websites, revenue fell to $857.7 million from $1 billion.

Net income attributable to Yahoo rose to $162.8 million, or 17 cents per share, from $76.3 million, or 8 cents per share, a year earlier.

Excluding items, the company earned 20 cents per share, beating the average estimate of 14 cents.

Yahoo said on Friday it would not hold a call or webcast after the release of the results, citing the Verizon deal.

(Reporting by Anya George Tharakan in Bengaluru; Editing by Don Sebastian)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard