In final earnings report, Yahoo beats Wall Street with $1.3B in revenue
More than 20 years of being a public company will come to an end this quarter.
Yahoo mostly beat Wall Street expectations with what is probably its final quarterly earnings report as a public company. The company went public in April 1996, 21 years ago.
Revenues and earnings per share both beat expectations. The company reported revenues of $1.3 billion and adjusted earnings of $0.18, though revenue ex-TAC was down year over year.
The group of properties and channels Yahoo calls MaVeNS (mobile, video, native, social) revenues grew to $529 million. Mobile itself saw significant growth, to $412 million from $260 million a year ago.
Yahoo Q1 2017 at a glance
The Verizon acquisition is finally supposed to close this quarter. The all-cash deal is now valued at roughly $4.5 billion, with Yahoo retaining responsibility for any legal fallout from several massive data breaches.
Once it does close, Yahoo will live beside AOL in a new Verizon business unit poorly named “Oath” (vaguely reminiscent of Homer Simpson’s “d’oh!”). Both AOL and Yahoo brands will survive, but operations will likely be consolidated.
Yahoo currently has 8,600 employees. Yahoo CEO Marissa Mayer will exit upon the closing of the deal with a package worth roughly $23 million.