Sunnyvale, California-based online media company Yahoo (NASDAQ: YHOO) released its fourth-quarter earnings results after the closing bell on Monday. In the after hours, the stock was trading up around 4.50 percent to $21.22 as investors initially reacted favorably to the report.
However, Yahoo shares gave back much of the gain during the company’s conference call.
The company led by former Google (NASDAQ: GOOG) exec Marissa Mayer reported net income of $272.3 million or $0.23 per share, compared to $295.6 million or $0.24 per share, in last year’s fourth-quarter.
On an adjusted basis, which is comparable to analysts’ consensus, Yahoo said that net income was $369.6 million or $0.32 per share, an increase versus the $306.7 million or $0.25 per share, the company reported last year. This solidly beat Wall Street earnings per share expectations of $0.28.
Revenue in the quarter was up 2 percent to $1.35 billion from $1.32 billion in the year ago period. Revenue excluding traffic acquisition costs rose 4 percent to $1.22 billion compared to $1.17 billion last year. Analysts had consensus revenue estimates of $1.21 billion heading into the report.
During the earnings call, Yahoo guided first quarter sales $1.07-1.1 billion, less than the $1.12 billion analysts were expecting.
The earnings news from Yahoo and the initial favorable price action in the stock should contribute to the company’s nice run of late. Over the last 3 months, the shares have climbed around 21 percent.
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