- Yahoo (YHOO) expects Q4 revenue of $1.18B-$1.22B, below a $1.25B consensus. Operating income is expected to total $240M-$260M, down from $283M a year earlier.
- However, Alibaba had Q2 revenue of $1.74B (+26% Q/Q and +61% Y/Y) and net income of $717M (+145% Y/Y). That's offsetting the Q4 guidance. Yahoo Japan (35% stake) had revenue of $992M (-4% Y/Y) and net income of $365M (+15%).
- Also: Yahoo says it has amended the Alibaba deal to lower the number of shares it's required to sell following an IPO to 208M from a prior 261.5M.
- Yahoo's Q3 revenue (ex-TAC) fell 1% Y/Y, same as Q2 and Q1. Search ads +3% Y/Y vs. +5% in Q2. Paid clicks +21 %, price per click -4%. Display ads -7% Y/Y vs. -11% in Q2. Ads sold +1%, price per ad -7%. The ad volume and pricing data excludes Yahoo's discontinued Korean ops.
- $1.69B was spent to buy back 59M shares at an average price of $28.53. That's up sharply from Q2's $653M.
- Thanks to the buybacks, Yahoo's cash balance stood at $3.2B at the end of Q3, down from $4.8B at the end of Q2.
- YHOO +0.3% AH. CC/live video talk at 5PM ET.
- Q3 results, PR, slide deck
More on Yahoo: Q4 guidance soft, Alibaba numbers strong, deal amended
Oct 15 2013, 16:37 ET