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Yahoo! profits still lower as revenue falls 5%
2013-10-16 08:59:00| Telecompaper Headlines
(Telecompaper) Yahoo! reported third-quarter net profit down 89 percent to USD 0.28 per share, after booking a gain the year-earlier period on the sale of Alibaba shares. Excluding the one-time items, profit fell 24 percent to USD 358 million. Revenue declined 5 percent to USD 1.1399 billion and was down 1 percent to USD 1.081 billion when excluding traffic acquisition costs. Display revenue fell 7 percent to USD 470 million due to pressure on ad prices, and search revenue was down 8 percent to USD 435 million on a lower price per click. Yahoo's adjusted EBITDA fell 19 percent to USD 331 million, and operating profit was down 39 percent to USD 93 million. CEO Marissa Mayer said she was still pleased with the company's execution, as it continues to invest in improving products and and made eight acquisitions during the quarter. The site's user base has grown 20 percent in the past 15 months to over 800 million monthly users, she said. After spending USD 1.7 billion share repurchases in the quarter, Yahoo had USD 3.2 billion in cash remaining at the end of September.
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Category:Telecommunications