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Yahoo! more than doubles profit to USD 163 mln in Q3
2016-10-19 08:31:00| Telecompaper Headlines
(Telecompaper) Yahoo reported a net profit of USD 163 million in the third quarter, more than double the year-earlier total of EUR 76 million, on earnings of USD 1.305 billion, up from USD 1.226 billion in Q3 2015. Earnings per share came in at 20 cents compared to 15 cents a year earlier, while adjusted EBITDA dipped to USD 229 million from USD 244 million. Yahoo's display advertising revenue was down 7 percent year on year to USD 476 million due to a 5 percent fall in the number of ads sold, while mobile revenue increased to USD 396 million from USD 271 million and accounted for 32 percent of traffic-driven revenue. CEO Marissa Mayer announced that she was pleased with the results and said the company was still "busy preparing for integration with Verizon," after the telecommunications giant agreed to buy Yahoo for USD 4.8 billion in July.
Tags: yahoo
usd
profit
doubles
Naspers sells Allegro Group for USD 2.25 bln
2016-10-17 08:10:00| Telecompaper Headlines
(Telecompaper) South African media company Naspers has sold its 100 percent stake in Poland-based Allegro Group, including both Allegro and Ceneo, to funds advised by private equity firms Cinven, Permira and Mid Europa, for USD 3.253 billion. Naspers said the decision to sell Allegro Group was in line with its strategy to find and unlock value for shareholders.
Baidu announced USD 3 bln internet investment fund
2016-10-12 10:35:00| Telecompaper Headlines
(Telecompaper) Baidu has set up a new CNY 20 billion (USD 3 billion) internet investment fund, Reuters reported, citing a company statement on its official WeChat mobile messaging account. The Baidu Capital fund will make sure the company remains relevant in the smartphone era and beyond.
Tags: internet
investment
usd
fund
Amazon starts new music streaming service from USD 3.99/mth
2016-10-12 10:27:00| Telecompaper Headlines
(Telecompaper) Amazon.com has launched its Amazon Music Unlimited music streaming services, with prices from USD 3.99 per month for owners of its Amazon Echo speaker, and a promotional 30-day free trial. Subscriptions cost USD 7.99 per month for members of Amazon's Prime shipping and video service and USD 9.99 per month for non-members. The service gives access to a catalogue of millions of songs on demand. Users can use the Echo smart speaker to verbally ask for single songs using title or lyrics, for playlists by theme or for music genre. The Echo smart speaker, released last year, responds to voice commands.
Tags: service
music
amazon
usd
Snap planning IPO with valuation of USD 25 bln - report
2016-10-07 09:25:00| Telecompaper Headlines
(Telecompaper) Snap, the company formerly known as Snapchat, is planning an initial public offering (IPO) that could value the company at USD 25 billion or more, the Wall Street Journal reported, citing several sources familiar with the matter. There is still no guarantee the IPO will go through, and with that valuation.
Tags: report
planning
usd
snap
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