Yahoo Shares Tick Higher On Strong Results
Shares of Yahoo! Inc. (NASDAQ: YHOO) are trading up more than 1.35 percent after the company announced its Q3 results.
Earnings of $0.20 per share beat the Street’s consensus of $0.14, while revenue of $1.31 billion (up 6.5 percent year-over-year) was in line with expectations.
For the full year, management said it expects sales between $5.06 billion and $5.1 billion, and sales ex-TAC between $3.44 billion and $3.48 billion. The Street was modeling sales of $5.06 billion.
For Q4, the team guided for adjusted EBITDA of $260 million to $300 million, and sales of $1.36 billion to $1.4 billion, versus the Street’s consensus of $1.37 billion.
"This quarter, we launched several new products and showed solid financial performance across the board," said CEO Marissa Mayer. "In addition to our continued efforts to strengthen our business, we are busy preparing for integration with Verizon. We remain very confident...in the value Yahoo products bring to our users' lives. To that end, we take deep responsibility in protecting our users and the security of their information. We're working hard to retain their trust and are heartened by their continued loyalty as seen in our user engagement trends."
Shares traded recently at $42.25, up about 1.3 percent in the after-hours session.
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