Yahoo! Inc. (YHOO - Free Report) just released its third quarter fiscal 2016 earnings results, posting non-GAAP net earnings of 20 cents per diluted share and revenue of $1.305 billion. Currently, YHOO is a Zacks Rank #3 (Hold), and is up 1.37% to $42.25 per share in after-hours trading shortly after its earnings report was released.
Beat earnings estimates. The company posted earnings of 20 cents per share, surpassing analyst expectations of 14 cents per share.
Met revenue estimates. The company saw revenue figures of $1.305 billion, meeting analyst forecasts and gaining 6.5% year-over-year. It should be noted that the previous change in revenue presentation tied to its Microsoft Search Agreement contributed $258M; excluding that, GAAP revenue would have been $1.048 billion.
Yahoo reported "Mavens" revenue (mobile, video, native and social) of $524 million, up 24.2%, while non-Mavens revenues were $726 million, up 4.8%. Total traffic-driven revenue grew 12% to $1.25 billion, while non-traffic-driven revenue fell to $55 million from $111 million.
The company also reported mobile revenue of $396 million, jumping 46.1%, while desktop revenue came in at $854 million for the quarter.
"I am pleased with our Q3 results. This quarter, we launched several new products and showed solid financial performance across the board; both are a testimony to the tremendous teamwork, focus, and resilience of our employees," said Marissa Mayer, CEO of Yahoo. "In addition to our continued efforts to strengthen our business, we are busy preparing for integration with Verizon [(VZ - Free Report) ].”
Here’s a graph that looks at Yahoo’s price, consensus, and EPS surprise:
Yahoo! Inc. is a global Internet communications, commerce and media company that offers a comprehensive branded network of services. As one of the first online navigational guides to the World Wide Web, Yahoo! is one of the leading guides in terms of traffic, advertising, and household and business user reach. The company also provides online business and enterprise services designed to enhance the productivity and Web presence of Yahoo!'s clients.
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