Yahoo Posts Quarterly Earnings and Sales Above Market Forecasts
Shares of Yahoo Inc. rose as much as 2% late Monday before retreating to trade at $42.88 per share, up 1.13% in after-trading hours. The internet company reported fourth-quarter adjusted earnings and sales above expectations.
Yahoo said it earned $162 million or 17 cents a share in the three-month period ending December. The result contrasted with a loss of $4.43 billion, or $4.70 a share, in the year-ago quarter. Adjusted for one-time items, Yahoo recorded earnings of 25 cents a share in the quarter, up from 13 cents a share a year ago. Revenue also witnessed an increase compared to that of one year ago.
Yahoo’s revenue reached $1.47 billion, up from $1.27 billion reported a year earlier.
The internet advertising technology company also said the sale of its core business to Verizon will be delayed to close in the second quarter instead of in the first quarter “given work required to meet closing conditions”.
Buy Stop at 42.90, Take profit 44.50, Stop loss at 42.60