Yahoo just reported its second quarter earnings after the bell Monday afternoon.
It was a mostly in-line quarter with a slight miss on earnings per share. It beat revenue estimates by a small margin.
Yahoo stock remains largely flat in after hour trading.
Yahoo said that its board has made “great progress on strategic alternatives” but did not provide any details on the current auction to sell the company.
Here are the most important numbers:
- Q2 adjusted earnings per share (EPS): $0.09 per share vs $0.10 per share expected
- Q2 Revenue: $1.31 billion vs. $1.08 billion expected (up 5% year-over-year)
- Q2 Revenue ex-TAC: $842 million vs. $1.04 billion year-over-year
Mavens revenue, short for mobile, video, native, and social, came in at $504 million, up 25% from last year. That’s a huge bounce back from the previous quarter when Mavens growth came to a halt at around 7%. Growing Maven revenue has been one of the focal points of Mayer’s new Yahoo since she took over the company in 2012.
Tumblr, the social network Yahoo bought for nearly $1 billion, saw another big write down. Yahoo reported that it will be writing off $395 million in impairment charges, just two quarters after writing off $230 million in February.
We’ll be covering the earnings results as they come out, so hit refresh or click here to view the latest.
At this point of course, most investors are focused on the potential sale of Yahoo, as opposed to the ongoing challenges in its business. The company is reported to be accepting the final rounds of bids from interested buyers of its core internet business on Monday afternoon.
It’s unclear if the company will disclose any details around the bids during the earnings call. Companies like Verizon, AT&T, and a number of private equity firms are reported to be in the race to buy Yahoo’s core assets. There’s also a chance that the company might not get sold at all, if the bidding prices are too low.
During last month’s annual shareholder meeting, Mayer said the company was “continuing to make great progress” in the sales process and that she was “heartened by the interest in Yahoo.”
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