Yahoo! Inc. (YHOO – Free Report) released its 2017 first-quarter financial results, posting earnings of $0.06 per share and revenues of $834 million. Currently, Yahoo is a Zacks Rank #3 (Hold) and is up 0.36% to $47.56 per share in trading shortly after its earnings report was released.
Missed earnings estimates. The company posted earnings of $0.06 per shares, missing the Zacks Consensus Estimate of $0.08. This number excludes 4 cents from non-recurring items.
Beat revenue estimates. The company saw revenue figures of $834 million, beating our consensus estimate of $800 million.
In Q1, Yahoo saw a 3% decline in revenue from $859 million year-over-year.The company also cut back about 9% of its active employees. Yahoo now has 8,600 active employees, compared to 9,400 a year ago.
For the rest of fiscal 2017, the search engine company looks to focus on its integration with Verizon (VZ – Free Report). The deal is scheduled to close in June 2017.
“As we enter our final quarter as an independent company, we are committed to finishing strong and planning for the best possible integration with Verizon. With the transaction anticipated to complete in June,” said Marissa Mayer, CEO of Yahoo.
Here’s a graph that looks at Yahoo:
Yahoo! Inc. Price and Consensus
Yahoo! Inc. Price and Consensus | Yahoo! Inc. Quote
Yahoo! Inc. is a global Internet communications, commerce and media company that offers a comprehensive branded network of services. As one of the first online navigational guides to the World Wide Web, Yahoo! is one of the leading guides in terms of traffic, advertising, and household and business user reach. The company also provides online business and enterprise services designed to enhance the productivity and Web presence of Yahoo!’s clients.
