Yahoo’s 1Q 2013 Sees Earnings Gain, Ad Sales Drop
Yahoo’s first quarter numbers for 2013 show off GAAP net earnings of $390 million, marking a 36 percent increase annually. But those encouraging figures were dulled some by the number of display ads sold, which dropped 7 percent annually.
The company reported GAAP revenue of more than $1.1 billion for the quarter, which represented a 7 percent dip annually. Those numbers came on a $0.35 EPS for the quarter, compared to a $0.23 annually.
In addition to launching a redesign of its homepage, Yahoo acquired companies like Snip.it, Alike and Jybe, strengthening its push toward mobile. Most notable of its recent acquisitions was Summly, the mobile news aggregation and summary app it bought from its 15-year-old founder. Yahoo switched off the app and plans to integrate its technology across all its mobile content experiences.
In Yahoo ad news not related to the sales slump, the company announced a global, non-exclusive agreement with Google to use the company’s AdSense for Content and AdMob services.
"We are moving quickly to roll out beautifully designed, more intuitive experiences for our users,” said Yahoo CEO Marissa Mayer.
After missing revenue estimates, the company’s stock fell four percent yesterday. Today it’s holding steady near $23.79.