Yahoo just posted its earnings for the third quarter of 2012, and managed to beat expectations. This was Marissa’s first full quarter as CEO, and Yahoo seems to be moving in the right direction.
Yahoo made $1.217 billion in quarterly revenue, down marginally year-over-year. However, adjusted for traffic acquisition costs, its revenue was $1.072 billion, roughly 2% up year-over-year.
Marissa Mayer, CEO of Yahoo!, said:
“Yahoo! had a solid third quarter, and we are encouraged by the stabilization in search and display revenue. We’re taking important steps to position Yahoo! for long-term success, and we’re confident that our focus on quality and improving the user experience will drive increased value for our advertisers, partners and shareholders.”
The top management has been shuffled quite a bit since Marissa stepped in. Yahoo has made some key hires and redesigned its entire product strategy. It launched quite a few new products and services, and sold some of its stake in Alibaba to raise around $7 billion in cash.
Yahoo’s cash and cash equivalents increased to $7.560 billion by the end of the last quarter.
It reported net income of $3.161 billion, but its actual operating income was only around $152 million. Its stock is up around 5% today.
via Yahoo – PR