Washington, Apr 17 (ANI): Internet firm Yahoo's advertising revenue have crumbled further during the first three months of the year, but experienced surge in earnings under new CEO Marissa Mayer.
Yahoo announced 2013 first quarter revenues of 1.14 billion dollars and non-GAAP earnings per share of 38 cents.
That is a year-over-year decrease of seven percent in revenue, (flat year-over-year after traffic acquisition costs). Earnings per share were up 26 percent.
According to CBS News, average analyst expectations were for 1.1 billion dollars in revenue and earnings per share of 0.24 dollars, virtually flat year over year.
So Yahoo fell short on revenue and beat expectations on earnings, the report said.
Mayer said in the earnings release that she is 'pleased with Yahoo's performance in the first quarter'.
Investors apparently disagree as in after-hours trading, Yahoo shares fell 4.5 percent, the report said.
Yahoo has been under pressure for years to ramp up its game to please investors, the report said.
The lack of success has caused the ouster of three CEOs and the better part of a board of directors. Current CEO Marissa Mayer was brought in from Google in an attempt to shake up the company up, and shake she did, it added. (ANI)
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