Yahoo today reported its earnings for the fourth quarter of 2013, where it reported GAAP revenues of $1.27 billion and earnings per share of $0.46. Sales were down by 6% but EPS was up 31%.
Analysts were expecting revenues of $1.2 billion on EPS of $0.38.
Display advertising, ex-TAC was $491 million down 6% compared to $520 million for Q4 of 2012. Display revenue ex-TAC was $1,737 million for the full year of 2013, a 9 percent decrease compared to $1,899 million for the prior year.
Search was a bit more of a brighter picture. Yahoo said search revenue ex-TAC was $461 million for the fourth quarter of 2013, up 8% compared to $427 million for the fourth quarter of 2012. Search revenue ex-TAC was $1,699 million for the full year of 2013, a 6 percent increase compared to $1,611 million for the prior year.
With last quarter’s revenues barely beating estimates on sales of $1.08 billion and display advertising declining 7% to $421 million (ex-traffic acquisition costs), all eyes are on whether Yahoo has managed to reverse the course of its main revenue driver. This quarter was mixed in that regard.
Earlier this month the company announced a new ad exchange and ad manager to buy across native, audience, premium and search products. It’s also now powering the sponsored posts on Tumblr — part of its larger plan to ramp up its presence in Tumblr ads this year. The effects of developments like these probably won’t trickle into results for some time, though.
Under Marissa Mayer as CEO, the company has been on an acquisition tear, and that — combined with continued investment in Yahoo’s products, and share repurchases, have reduced the company’s cash position to about $5 billion, down by $1 billion from a year ago.
More to come.
from TechCrunch http://ift.tt/1jFCyn3
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