Yahoo just reported Q1 earnings.The stock is up almost 2% in after-hours trading. Obviously its impossible to say why, but it’s probably because of strong profits and not-as-bad-as-we-thought search revenues.
EPS: $0.22 vs $0.17 expectations.
Revenue: (ex-TAC) $1.08 billion vs. $1.06 billion
Search: $384 million, an 8% increase. JPM analyst Doug Anmuth forecasted search net revenue of $351 million, down 1.7%.
Outlook: Conservative, as expected. “Revenue ex-TAC for the second quarter of 2012 is expected to be in the range of $1,030 million to $1,140 million.”
Yahoo will host a conference call at 5pm. You can listen live.
Here’s what JPM’s Anmuth says to listen for:
- Search declines to lessen in 1Q and whether Yahoo!/Bing is gaining any traction
- Continued softness in display;
- Details around restructuring and layoffs;
- Scott Thompson’s strategy for the business;
- Any discussion on monetization of Asian assets, though we think commentary will be limited.