Yahoo! Inc. (YHOO) - NASDAQ
  • Mon, Jul. 18, 4:46 PM
    • Yahoo (NASDAQ:YHOO): Q2 EPS of $0.09 misses by $0.01.
    • Revenue of $1.3B (+4.8% Y/Y) beats by $220M.
    • Shares +0.35%.
    • Press Release
    | Mon, Jul. 18, 4:46 PM | 8 Comments
  • Sun, Jul. 17, 5:35 PM
    | Sun, Jul. 17, 5:35 PM | 19 Comments
  • Thu, Jul. 14, 12:35 PM
    • Yahoo (YHOO +1.1%) can meet Q2 analyst estimates, RBC says, but that doesn't necessarily mean the stock is a buy.
    • The firm reiterated its Sector Perform rating, with a $38 price target (the stock is trading at $38.04 currently).
    • Analyst Mark Mahaney says Q3 results are achievable as well, but the company and analysts are counting on a "relatively aggressive" margin recovery.
    • In search metrics, RBC is forecasting net search revenue to fall 23% for Q2. In display metrics, the firm sees Yahoo's revenue falling 3%; while ads sold grew 8% in Q1, price per ad fell 6%. And while revenue in the company's "Mavens" (mobile, video, native, social) is up, "the challenge for Yahoo is that its traditional non-MaVeNS segment is declining Y/Y," Mahaney writes.
    • Yahoo is set to report earnings after Monday's close, and hold a conference call at 5:30 p.m. ET that day.
    | Thu, Jul. 14, 12:35 PM | 8 Comments
  • Thu, May 5, 1:25 PM
    • Though Yahoo's (YHOO +2.4%) efforts to sell its core business get far more ink, Alibaba's (BABA +3.7%) movements continue having a bigger impact on its shares. The web portal is trading near $37 today after Alibaba posted mixed FQ4 results - EPS missed due to large investments in areas such as local services and entertainment content, but revenue beat as annual sales growth accelerated to 39% from FQ3's 32%.
    • Driving the acceleration: Alibaba's Chinese retail marketplace (Taobao/Tmall) revenue rose 41% Y/Y to $2.84B, an improvement from FQ3's 35% growth. Marketplace GMV rose 24% to $115B, and Alibaba's monetization rate on these sales improved to 2.47% from 2.17%. International commerce revenue rose 21% to $308M, and cloud computing/Internet infrastructure revenue 175% to $165M.
    • Aggressive spending led Alibaba's costs/expenses to rise to 60% of revenue from 58% a year ago. Cost of revenue rose to 35% of revenue from 29%; R&D, sales/marketing, and G&A were either flat or down as a % of revenue. $118M in losses were recorded for Alibaba's share of its Koubei local services JV with Alipay parent Ant Financial. Alibaba ended FQ4 with $17.3B in cash and $9B in debt.
    • Yahoo's 384M-share Alibaba stake is currently worth $30.2B.
    | Thu, May 5, 1:25 PM | 16 Comments
  • Wed, Apr. 20, 10:31 AM
    • Yahoo (NASDAQ:YHOO) has moved up 3.3% out of Q1 earnings that beat some (previously reduced) expectations. Some key businesses (Mavens?) showed heavily declining rates of growth despite signs of life elsewhere.
    • Analyst opinions poured in, most with price target hikes. Oppenheimer's gone from $40 to $49 (implied 35% upside from yesterday's close), though due mainly to an increase in the value of Alibaba, as well as "our assumptions that Yahoo-core is sold for 8x EBITDA, BABA stake remaining un-taxed, and YJ sold on a taxable basis."
    • "While Mavens growth is slowing (+7% y/y vs. +26% in 4Q)," analyst Jason Helfstein says, "the company does appear to be executing on its plan to simplify products, reduce costs (sun-setting products, headcount reductions, office closures), and focus on higher margin ad-tech solutions around the company's web content and main verticals (news, sports, finance, lifestyle)."
    • Susquehanna boosted its target to $44 from $40, and Morgan Stanley's at $46 (implied 27% upside from yesterday's close) while Credit Suisse trimmed its target to $46, from $47.
    • Other target hikes: Nomura (to $39 from $34); RBC Capital (to $38 from $33); Axiom (to $37 from $36); Barclays (to $38 from $35); Citi (to $38 from $37); Piper Jaffray (to $40 from $31); Goldman Sachs (to $38 from $37).
    • Now read Yahoo: Who's Ready To Take On A Legacy Digital-Native Media Turnaround? »
    | Wed, Apr. 20, 10:31 AM | 4 Comments
  • Tue, Apr. 19, 5:42 PM
    • The earnings webcast for Yahoo (NASDAQ:YHOO) isn't just an update of operating results, but something like a roadshow as the sale of its core Internet business heads to its endgame, likely with only a few bidders left.
    • Shares are up 1.3% after hours now.
    • CEO Marissa Mayer walked through results at the realigned consumer-facing verticals and praised results at its ad units, Gemini and BrightRoll, but said Yahoo wouldn't be providing updates on specifics of its strategic alternatives plan -- foiling a good chunk of the planned Q&A. They've talked to "some of the most well known and respected names" in the industry.
    • Mavens revenue (mobile, video, native, social) growth is expected to meet an annual target of $1.8B, Mayer said. Headcount reduction has been hard but proceeded -- the company has less than 9200 active employees and 700 contractors -- and will result in a better Yahoo, Mayer says.
    • Overall, the company is forecasting Q2 GAAP revenues of $1.05B-$1.09B, short of a consensus for $1.10B. Traffic acquisition costs are expected about $240M; revenue ex-TAC at $810M-$850M, vs. analyst consensus of $859.4M. EBITDA is seen at $135M-$155M, vs. consensus for $166M.
    • Previously: Yahoo gains slightly after hours on Q1 beat; working through bid process (Apr. 19 2016)
    • Yahoo Q1 earnings slides
    • Now read Yahoo: Who's Ready To Take On A Legacy Digital-Native Media Turnaround? »
    | Tue, Apr. 19, 5:42 PM | 10 Comments
  • Tue, Apr. 19, 4:18 PM
    • Yahoo (YHOO -0.5%) is up 0.6% now after hours following a beat on top and bottom lines in its Q1 report.
    • No news on the core asset bidding, as the company says it's "worked diligently with the committee and its independent legal and financial advisors to engage with interested strategic and financial parties." It will "remain focused on the strategic alternatives process as a top priority," says CFO Ken Goldman.
    • GAAP revenue came in at $1.09B vs. an expected $1.08B, and ex-TAC was $859.4M vs. consensus of $846.1M. Loss from operations was $167M, while on a non-GAAP basis, income from operations was $7M.
    • "Mavens" revenue (mobile, video, native and social) was $390M, up from a year-ago $365M, while mobile revenues were $260M vs. a prior $234M.
    • Livestream of earnings discussion to come at 5 p.m. ET.
    • Press release
    • Now read Yahoo: Who's Ready To Take On A Legacy Digital-Native Media Turnaround? »
    | Tue, Apr. 19, 4:18 PM | 15 Comments
  • Tue, Apr. 19, 4:07 PM
    • Yahoo (NASDAQ:YHOO): Q1 EPS of $0.08 beats by $0.01.
    • Revenue of $1.09B (-11.4% Y/Y) beats by $10M.
    • Shares +0.7%.
    • Press Release
    | Tue, Apr. 19, 4:07 PM | 3 Comments
  • Mon, Apr. 18, 5:35 PM
    | Mon, Apr. 18, 5:35 PM | 4 Comments
  • Tue, Feb. 2, 5:10 PM
    • Q4 adjusted EBITDA of $215M vs. $409M a year ago. Full-year adjusted EBITDA of $952M vs. $1.362B. Non-GAAP EPS of $0.13 vs. $0.30. Full-year of $0.59 vs. $1.57.
    • The company took a $4.461B goodwill writedown in Q4, making the quarter a net loss of $4.435B.
    • Mavens revenue of 472M vs. $375M a year ago. Non-mavens of $750M vs. $751M. The just-announced strategic plan calls for Mavens revenue to hit $1.8B this year vs. $1.66B in 2015.
    • Mobile revenue of $291M vs. $254M a year ago. PC revenue of $931M vs. $872M.
    • Gross search revenue of $866M down 7% Y/Y. Full-year search revenue of $3.612B up 7% from 2014.
    • In board news, Charles Schwab has resigned from his post as a director, and at this point there's no replacement.
    • The conference call is just getting underway.
    • Previously: Yahoo to cut 15% of workforce as part of strategic plan (Feb. 2)
    • Previously: Yahoo EPS in-line, misses on revenue (Feb. 2)
    • YHOO -0.9% after hours
    | Tue, Feb. 2, 5:10 PM | 7 Comments
  • Tue, Feb. 2, 4:44 PM
    • The company through its plan hopes to get to an adjusted EBITDA run rate of roughly $1B by H2 of this year. Operating expenses are to be cut by $400M by year-end. Asset sales are hoped to raise more than $1B in cash.
    • Revenue in Mavens (mobile, video, native, and social) is hoped to reach $1.8B this year.
    • In consumer products, the company will consist of three global platforms: Search, Mail, and Tumblr, and four verticals: News, Sports, Finance, and Lifestyle. For advertisers, Yahoo will be defined by two core offerings: Gemini and BrightRoll.
    • As for search, it's all about mobile, and the company will shift most of its resources in this area to more "forward-leaning" mobile search investments.
    • Along with job cuts of 15%, the company will exit five offices in Dubai, Mexico City, Buenos Aires, Madrid, and Milan. Most of these changes will take place in Q1, and Yahoo will have about 9K employees by year-end, and less than 1K contractors.
    • Conference call at 5 ET
    • Previously: Yahoo EPS in-line, misses on revenue (Feb. 2)
    • YHOO -1.6% after hours
    | Tue, Feb. 2, 4:44 PM | 16 Comments
  • Tue, Feb. 2, 4:34 PM
    • Yahoo (NASDAQ:YHOO): Q4 EPS of $0.13 in-line.
    • Revenue (ex-TAC) of $1B (-15.3% Y/Y) misses by $190M.
    • Shares +0.5%.
    | Tue, Feb. 2, 4:34 PM
  • Mon, Feb. 1, 5:35 PM
  • Thu, Jan. 28, 8:00 AM
    • Alibaba's (NYSE:BABA) is up 2.8% premarket after posting an FQ3 beat fueled by improving Chinese marketplace monetization. Yahoo (NASDAQ:YHOO), whose value remains heavily tied to its 384M-share Alibaba stake, is up 2.4% ahead of its Feb. 2 Q4 report. Top Alibaba rival (NASDAQ:JD) is also up 2.4%.
    • Chinese marketplace performance: Alibaba's Chinese retail marketplace (Taobao/Tmall) GMV rose 23% Y/Y in FQ3 to $149B, a slowdown in growth from FQ2's 28% and FQ1's 34%. However, monetization/take rate improved to 2.98% from 2.7% a year ago, thanks to a surge in mobile monetization rate to 2.88% from 1.96%. That allowed Chinese retail commerce revenue to rise 35% to $4.4B (83% of total revenue), even with FQ2's growth rate.

      Marketplace annual active buyers rose by 21M Q/Q to 407M; mobile MAUs rose by 47M to 393M. Mobile was 68% of GMV vs. 62% in FQ2 and 42% a year ago, and 65% of Chinese retail revenue. Alibaba predicts Chinese commerce revenue will grow faster than GMV "for the foreseeable future." The company also says it has "taken aggressive steps to capture market share in key cities and key categories."
    • Other businesses: Chinese wholesale commerce revenue +35% Y/Y to $179M. International commerce +17% to $318M, with retail revenue totaling $97M and wholesale $221M. Cloud computing & Internet infrastructure (inc. AliCloud) +126% to $126M. Other businesses -7% to $277M.

      The Koubei local services JV with Alipay parent Ant Financial produced GMV of $2.4B, with daily transactions average more than 5M in December. Same-day delivery is offered in seven major cities via Alibaba's logistics platform, and next-day delivery in 88 cities (up from 41 in FQ1).
    • Financials: Cost of revenue rose to 32% of revenue from 29% a year ago, thanks to higher traffic acquisition costs and investments in new businesses. R&D and sales/marketing spend each fell to 11% of revenue from 12%, and G&A to 7% from 9%. Overall, costs/expenses were 64% of revenue if including stock compensation, and 51% if excluding it.

      Free cash flow totaled $3.66B, topping net income of $2.53B. Alibaba ended FQ3 with $18.3B in cash and $8.3B in senior notes/bank borrowings.
    • In other news, the WSJ reports Alibaba has agreed to sell its stake in Chinese local services leader Meituan-Dianping (MEIT - competes with Koubei) for ~$900M. The sale price involves a ~$12.5B valuation, less than the $15B Meituan-Dianping was valued at in a recent funding round.
    • Alibaba's FQ3 results, earnings release
    • Update (11:08AM ET): Alibaba has given back its premarket gains: Shares are now down 1.7%. Yahoo is down 1%.
    | Thu, Jan. 28, 8:00 AM | 34 Comments
  • Oct. 27, 2015, 9:22 AM
    • Yahoo (NASDAQ:YHOO) has risen to $35.20 premarket after Alibaba (BABA - up 8%) beat FQ2 estimates with the help of a 12 bps Y/Y increase in Chinese marketplace monetization/take rate (contrasts with FQ1's 19 bps decline) to 2.42%.
    • The trigger: Mobile monetization rate (up 52 bps Y/Y to 2.39%) is now nearly even with Alibaba's total monetziation rate, helping mobile grow to 61% of marketplace revenue from 51% in FQ1 and just 29% a year ago. Mobile monthly active users rose 13% Q/Q and 59% Y/Y to 346M, and total annual active buyers 5% Q/Q and 26% Y/Y to 386M.
    • Alibaba's China marketplace GMV growth slowed to 28% Y/Y from FQ1's 34% and FQ4's 40%. Total China commerce revenue rose 35% to $2.88B, international commerce rose 14% to $289M, and cloud computing/Internet infrastructure rose 128% to $102M. EBITDA margin was flat at 50%, and free cash flow rose 52% to $2.14B (above net income of $1.46B).
    • Not counting any potential tax payments, Yahoo's 384M-share Alibaba stake is now worth $31.6B.
    | Oct. 27, 2015, 9:22 AM | 18 Comments
Company Description
Yahoo!, Inc. is a global technology company, which delivers personalized search, content, and communications tools on the web and on mobile devices. The company provides a variety of products and services, many of them personalized, including search, content, and communications tools-all daily... More
Sector: Technology
Industry: Internet Information Providers
Country: United States