Market Overview

Yahoo Tops Estimates, Verizon Deal Now Expected To Close In Q2

Share:
Yahoo Tops Estimates, Verizon Deal Now Expected To Close In Q2

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

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.

Posted-In: Earnings News M&A After-Hours Center Best of Benzinga

 

Related Articles (YHOO + VZ)

View Comments and Join the Discussion!

Benzinga's Option Alert Recap From January 23

Skyworks' Strong Earnings, High Volume Lands A Downgrade From Vetr Crowd