The big news at Yahoo involves its plan to sell itself — in whole or in parts. But while we wait for that, we have the company’s Q1 earnings which at first glance look to be largely in line with Wall Street expectations, though nothing to cheer about.
The Internet company generated a net loss of $99.2 million vs a net gain of $21.2 million in the period last year, on revenues of $1.09 billion, down 11.3%. The top line slightly beat expectations for $1.08 billion.
Adjusted earnings at 8 cents a share beat forecasts for 7 cents.
Yahoo’s stock price increased less than 1% in postmarket trading.
“Our 2016 plan is off to a solid start as we continue to focus on driving efficiency, lowering costs and improving long-term growth,” CEO Marissa Mayer said. “In tandem, we made substantial progress towards potential strategic alternatives for Yahoo. Our board, our management team and I are completely aligned on this top priority for shareholders.”
Yahoo CEO Declines To Discuss Sale Plans To Protect
Net search ad sales at $492 million was down 9% but well ahead of the consensus forecast for $360 million. The number of Paid Clicks fell 21% vs last year’s Q1, while the Price-Per-Click rose 7%.
Display ads fell 1% to $463 million, also beating the consensus prediction of $348 million. Yahoo sold 8% more ads, but the price per ad fell 6%.
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