Yahoo! Rises Slightly After Q2 Results
Yahoo! (NASDAQ: YHOO), which announced yesterday that it had hired former top Google (NASDAQ: GOOG) executive Marissa Mayer as its new CEO, released its second-quarter earnings results after the closing bell on Tuesday. The company reported net income of $226.63, down from $236.97 million in the year ago period. On a per share basis, the company reported earnings of $0.18.
On a non-GAAP basis, net income was $326.55 million or $0.27 per share, versus $237.13 million or $0.18 per share, in last year's second-quarter. This compared to analysts' consensus EPS estimates of $0.23.
Revenues in the quarter were down to $1.22 billion from $1.23 billion last year. Excluding traffic acquisition costs, Yahoo! revenue was $1.081 billion, which was flat with the second quarter of 2011. This came in slightly below Wall Street consensus revenue estimates of $1.10 billion.
In Tuesday's after hours trading session, YHOO shares have risen 0.19% to $15.63.
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