Yahoo Q2 2014 Earnings Follow Up

Yahoo misses consensus EPS expectations for the company's second quarter, reporting EPS of $0.37 versus analysts EPS of $0.38. Revenue came in at $1.04 billion compared to estimated of $1.09 billion. Sales decreased by 3 percent year-over-year. Yahoo reported GAAP net earnings of $270 million for Q2 2014, decreasing by 19 percent from Q2 2013. GAAP net earnings for the second quarter included restructuring charges of $33 million, net of tax, and the gains from revenue from patents of $43 million, and net of tax. Comment from the company's CEO Marissa Mayer. "Overall, I remain confident in Yahoo's future, our strategy, and our return to long-term growth." Yahoo Search grew by 6 percent year-over-year on a revenue ex-TAC basis while search click-driven revenue grew by 19 percent year-over-year. Social, mobile, video and native gained by nearly 90 percent year-over-year. The company announced they will reduce the number of shares being offered in the Alibaba IPO from 208 million shares to 140 million shares, causing shares to regain afters hours, after losing value with the announcement of missing consensus expectations.