Yahoo Reports Flat Revenue

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After the market closed today Yahoo.com (YHOO) reported its results for the quarter ending June 30, 2012 and in one word the results were “flat”

Even shares of the company are trading after hours basically Flat.

Q2 revenue missed consensus estimates slightly, but earnings per share that topped expectations.

Revenue excluding traffic acquisition costs (“Revenue ex-TAC”) was $1,081 million for the second quarter of 2012, flat compared to the second quarter of 2011.

GAAP revenue was $1,218 million for the second quarter of 2012, a 1% decrease from the second quarter of 2011.

Non-GAAP income from operations of $190 million in the second quarter of 2012 was flat compared to $191 million in the second quarter of 2011.

In the second quarter of 2012, non-GAAP net earnings per diluted share increased 47% year over year to $0.27.

Financials at a Glance

Quarterly Results (in millions, except percentages and per share amounts)
Q2 2011 Q2 2012 Percent Change
Revenue ex-TAC $1,076 $1,081 0%
GAAP revenue $1,229 $1,218 (1)%
Non-GAAP income from operations $191 $190 0%
Income from operations $191 $55 (71)%
Non-GAAP net earnings per diluted share $0.18 $0.27 47%
Net earnings per diluted share $0.18 $0.18 2%

Second Quarter 2012 Revenue Highlights

  • Display revenue ex-TAC was $473 million, a 1% increase compared to $467 million for the second quarter of 2011.
  • GAAP display revenue was $535 million, a 2%increase compared to $524 million for the second quarter of 2011.
  • Search revenue ex-TAC was $385 million, a 4% increase compared to $371 million for the second quarter of 2011.
  • GAAP search revenue was $461 million, a 1% decrease compared to $467 million for the second quarter of 2011.

Cash Flow and Cash Balance

  • Cash flow from operating activities for the second quarter of 2012 was $275 million, a 17 percent decrease compared to $331 million for the same period of 2011. Cash flow from operating activities was $572 million for the six months ended June 30, 2012, a 7 percent increase compared to $536 million for the same period of 2011.
  • Free cash flow was $93 million for the second quarter of 2012, a 2 percent decrease compared to $96 million for the same period of 2011. Free cash flow was $289 million for the six months ended June 30, 2012, a 90 percent increase compared to $152 million for the same period of 2011.
  • Cash, cash equivalents, and investments in marketable debt securities were $2,401 million at June 30, 2012 compared to $2,530 million at December 31, 2011, a decrease of $129 million.
  • During the second quarter of 2012, Yahoo! repurchased 30 million shares for $456 million.

 

About Michael Berkens

Michael Berkens, Esq. is the founder and Editor-in-Chief of TheDomains.com. Michael is also the co-founder of Worldwide Media Inc. which sold around 70K domain to Godaddy.com in December 2015 and now owns around 8K domain names . Michael was also one of the 5 Judges selected for the the Verisign 30th Anniversary .Com contest.

Comments

  1. owen frager says

    According to VentureBeat today (hat tip Bill Hartzer), Marrissa was lured away because she was passed over many times at G an never made it to SVP. Nonetheless she walked out of Google with a net worth of $330 million. Who says there’s no money in parking?

    Of course she knows that which is why her first acquisition might be in the Caymans and the addition of new TLDs makes the core business worth all the much more.

    shameless plug: http://fragerfactor.blogspot.com/2012/07/our-very-first-post-in-aug-2006.html

  2. Louise says

    It’s good news! As analyst on CNN just commented, “In the tech sector, expectations are EXCEEDINGLY low, so that just meeting an estimate is a good thing.”