Yahoo Reports Profit
Yahoo! reported third-quarter profit that topped analystsÂ’ estimates as advertising helped boost the turnaround efforts by Chief Executive Officer Marissa Mayer.
Profit was 34 cents a share, Sunnyvale, California-based Yahoo said today in a statement. Revenue, excluding sales passed to partner sites, was $1.08 billion.
Yahoo said it earned $297 million in net income in the third quarter, or 28 cents a share, compared to $3.16 billion, or $2.64 a share in the third quarter of 2012, when Yahoo's results included a $2.8 billion gain from the sale of a portion of its stake in Alibaba Group.
"I'm very pleased with our execution, especially as we've continued to invest in and strengthen our core business," said Yahoo CEO Marissa Mayer. "In Q3, we launched new user experiences across many of our digital daily habits -- Yahoo Screen, My Yahoo, Fantasy Sports, and more. Now with more than 800 million monthly users on Yahoo -- up 20 percent over the past 15 months -- we're achieving meaningful increases in user engagement and traffic."
Yahoo said it earned $297 million in net income in the third quarter, or 28 cents a share, compared to $3.16 billion, or $2.64 a share in the third quarter of 2012, when Yahoo's results included a $2.8 billion gain from the sale of a portion of its stake in Alibaba Group.
"I'm very pleased with our execution, especially as we've continued to invest in and strengthen our core business," said Yahoo CEO Marissa Mayer. "In Q3, we launched new user experiences across many of our digital daily habits -- Yahoo Screen, My Yahoo, Fantasy Sports, and more. Now with more than 800 million monthly users on Yahoo -- up 20 percent over the past 15 months -- we're achieving meaningful increases in user engagement and traffic."
