Yahoo reports $0.17 EPS, revenue of $1.3bn

Company News | Business | Markets 10/18/2016, 10:26 PM
Yahoo reports $0.17 EPS, revenue of $1.3bn

Yahoo! Inc. reported GAAP revenue of $1.3 billion for the third quarter of 2016 on Tuesday after markets closed in the United States, an increase year on year from $1.2 billion. Earnings per share rose to $0.17 from the last year’s figure of $0.08 in the same quarter. Net earnings increased to $163 million from $76 million recorded in the same period in 2015. The company's loss from operations in the July to September period fell from $86 million last year to $52 million.

CEO Marissa Mayer stated she was satisfied with the results. "In addition to our continued efforts to strengthen our business, we are busy preparing for integration with Verizon. We remain very confident, not only in the value of our business, but also in the value Yahoo products bring to our users' lives," she said.

Reflecting on last month's incident when information was stolen from around 500 million Yahoo user accounts, Mayer noted: "We take deep responsibility in protecting our users and the security of their information. We're working hard to retain their trust and are heartened by their continued loyalty as seen in our user engagement trends."

The internet company canceled a conference call following the release of its third-quarter results citing its pending deal with Verizon as the reason.

TeleTrader Newsroom / NP