Yahoo is up 3.54% at $43.90 a share, and trading at its best level since September, after the company reported Q4 results following Monday’s closing bell.
Here are the key numbers:
- Q4 Revenue (ex TAC): $960.1 million, down roughly 4% year-on-year, but above Wall Street’s $908 million target.
- EPS (adjusted): $0.25, above the $0.21 expected by Wall Street.
The company also announced that it has delayed the timeframe for closing its $4.8 billion acquisition by Verizon, as it grapples with additional questions related to a pair of major security breaches that recently came to light.
“Given work required to meet closing conditions, the transaction is now expected to close in Q2 of 2017,” Yahoo said on Monday. The company had previously said the deal would close in the first quarter of the year.
Still, the fact that Yahoo believes the deal is still on track to close in the first half of the year may be a relief to some investors worried that the transaction could be scrapped altogether.
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