Investors here in Syracuse as elsewhere are searching for insights about which way to go with investments in the stock market during these times of erratic market conditions. Kathryn Glass of FoxBusiness News, http://www.foxbusiness.com, has raised an interest in Yahoo in her article “Yahoo! 3Q Results Top Estimates, 4Q View Disappoints”.
Glass has reported on Tuesday Yahoo! Inc. (NASDAQ:YHOO) posted better-than-expected third-quarter earnings-per-share. However, adjusted revenue was slightly less than estimated. The high tech company also forecasted fourth-quarter revenue that may be disappointing.
Fourth-quarter revenue was forecasted to be in the range of $1.4 billion to $1.53 billion by the search engine company. When taking into consideration adjustements to exclude traffic acquisition costs, Yahoo now foresees fourth-quarter revenue between $1.13 billion and $1.23 billion. According to a poll by Thomas Reuters this revenue forecast fell below analyst expectations as Wall Street had predicted revenue minus traffic acquisition costs of $1.26 billion.
Yahoo has reported net earnings of $396.1 million, or 29 cents a share, compared with last year’s third-quarter earnings of $186 million, or 13 cents a share. The firm posted earnings per share of 17 cents on an adjusted basis, up from last year’s non-GAAP earnings of 10 cents a share. Total revenue for Yahoo rose 2% to $1.6 billion, up from year-ago revenue of $1.58 billion. Revenue excluding traffic-acquisition costs has come to $1.12 billion, which is slightly beneath Wall Street’s expectations.
Analysts were predicting earnings of 15 cents a share on revenue of $1.13 billion. Carol Betz, president and CEO of Yahoo has said in a statement “We’ve made substantial progress this year toward executing our strategies for enhancing profitability and resuming revenue growth. Margins are expanding; owned and operated display advertising is up 18% so far this year; product rollouts are accelerating thanks to modernization of our underlying platforms; and we continue to implement our search alliance with Microsoft on schedule.”
Bartz has gone on to tout the company’s shedding non-core assets and adding of strategic acquisitions such as Associated Content and Citizen Sports, while pursuing partnerships with Facebook, Twitter, and Zynga. Shares of Yahoo fell 2.7% in Tuesday’s trading session. The stock was reported to be up about a penny in after-hours trading.
Kathryn Glass offers a report which may raise investor interest in Yahoo here in Syracuse and elsewhere due to continued impressive revenue and growth of the firm in spite of some mild disappointing slow downs during this time of erratic market conditions.
Mandel News Service: http://www.mandelnews.com