Postmarket traders knocked Yahoo shares down more than 2% after it reported mixed results for Q2 — but with a weaker-than-expected forecast for the current quarter.
The online company said it had a net loss of $22 million in Q2, down from a $270 million profit in the period last year, on revenue of $1.24 billion, up 14.7%. The top line beat expectations for $1.03 billion. But earnings, after adjusting for extraordinary expenses, come to 16 cents a share — 2 cents lower than analysts anticipated.
Adding to its woes: Yahoo said it expects Q3 sales of as much as $1.04 billion — below expectations for $1.07 billion.
“I’m extremely pleased with our achievements in Q2, with revenue growing 15% year-over-year, marking our most substantial GAAP revenue growth in almost 9 years,” CEO Marissa Mayer said. “Our display business saw the most substantial revenue growth since 2010. Yahoo’s transformation continues to make great progress.”