Yahoo Revenue Comes in Flat as Mayer’s Turnaround Effort Continues
Yahoo reported third-quarter profit that topped analysts’ estimates but revenue that was flat as turnaround efforts by CEO Marissa Mayer continued.
Profit, excluding some items, was 34 cents a share, Yahoo said today in a statement. Analysts had projected earnings of 33 cents, according to data compiled by Bloomberg.
Revenue, excluding the cost of payments to sites that helped drive traffic, was $1.08 billion, down 0.8% from the quarter a year earlier. Display ad revenue excluding traffic acquisition costs fell to $421 million from $452 million. Search revenue excluding traffic costs ticked up to $426 million from $414 million.