Yahoo! Inc. (NASDAQ: YHOO) spoke on the merger with Verizon Communications Inc. (NYSE: VZ) in the company's fourth quarter release after Monday's market close. Yahoo stated the deal will be delayed a quarter, but expects it to close in the second quarter in 2017.
- Yahoo reported Q4 EPS of $0.25, beating estimates by $0.04
- Revenue came in at $1.469B, topping estimates by $89 million
- Earnings climbed 88 percent in the fourth quarter
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
While the deal with Verizon was initially expected to close in Q1, “The company is working expeditiously to close the transaction as soon as practicable in Q2,” easing concerns that the deal may not close after news broke in 2016 that Yahoo suffered two historical data breaches.
“We continued to build our mobile and native businesses -- delivering nearly $1.5 billion in mobile revenue and over $750 million in native revenue -- while operating the company at the lowest cost structure in a decade. With our 2016 and Q4 financial results ahead of plan, and the continued stability in our user engagement trends, the opportunities ahead with Verizon look bright," said CEO Marissa Mayer.
Shares of Yahoo were up nearly 1 percent after hours.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.