Yahoo beats Street again on earnings, looks to June deal close

|By:, SA News Editor

Yahoo (YHOO +0.4%) is down 0.2% in choppy after-hours trade following a Q1 report where it beat on top and bottom lines for the second straight quarter, as it looks ahead to a June close of its acquisition by Verizon (NYSE:VZ).

Revenue grew 22%, and the company's focused "Mavens" revenue rose 36% to $529M. Overall, traffic-driven revenue (Mavens and non-Mavens) rose 23% to $1.27B.

Mobile revenue in particular was up 58.5% to $412M, while desktop revenue rose 11% to $859M. Search revenue jumped to $745M from a previous $492M, due to a change in revenue presentation that contributed $304M (excluding that, search revenue fell 10% Y/Y).

Cash, equivalents and marketable securities came to $8.02B, up $111M from year-end 2016.

“Our Q1 performance reflects solid financial and operational execution in the new year, with more than $1.3 billion in GAAP revenue delivered," says CEO Marissa Mayer. “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."

Press Release