Yahoo Second-Quarter Earnings Rise, Revenue Dips Slightly
UPDATED: The online company, led by CEO Marissa Mayer, posted mixed financials Tuesday afternoon.
Online giant Yahoo on Tuesday reported improved second-quarter earnings, but its revenue dropped again.
The company, led by CEO Marissa Mayer, posted earnings of $137 million, compared with $55 million in the year-ago period.
Quarterly revenue dipped slightly, an ongoing challenge for the Internet firm that has worried investors. It was down 1 percent to $1.07 billion excluding traffic acquisition costs.
Analysts had forecast revenue excluding traffic acquisition costs of $1.08 billion, virtually unchanged from the same quarter last year.
Earnings of $331.2 million were up from $226.6 million. Adjusted earnings were expected to rise 11 percent to 30 cents per share, which they did. By some other measures the results beat expectations.
Mayer, a former Google top executive, has been in charge of Yahoo for a year.
In a conference call, she called video “a huge opportunity” for Yahoo given that advertisers "really like it."
The company has been investing in its own original online productions, plus it has struck content deals. One recent deal makes it the exclusive place for Saturday Night Live archive content. “A minority will be our own original programming," with the majority of content coming from partnerships, Mayer said.