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Yahoo Reports First Quarter 2017 Results
SUNNYVALE, Calif.--(BUSINESS WIRE)--April 18, 2017--Yahoo! Inc. (NASDAQ: YHOO) today reported results for the quarter ended March 31, 2017.
“Our Q1 performance reflects solid financial and operational execution in the new year, with more than $1.3 billion in GAAP revenue delivered. These results are the product of our teams’ tremendous focus and dedication to our users and advertisers,” said Marissa Mayer, CEO of Yahoo. “As we enter our final quarter as an independent company, we are committed to finishing strong and planning for the best possible integration with Verizon. With the transaction anticipated to complete in June, I’ve never been more proud of the improvements we’ve made to the business and the value we’ve delivered to our shareholders.”
|Q1 2016||Q1 2017|
|GAAP revenue||$1,087 million||$1,327 million|
|Cost of revenue –TAC||$228 million||$494 million|
|Loss from operations||$(167) million||$(59) million|
|Non-GAAP income from operations||$7 million||$73 million|
|Net earnings||$(99) million||$99 million|
|Adjusted EBITDA||$147 million||$188 million|
|GAAP net earnings per diluted share||$(0.10)||$0.10|
|Non-GAAP net earnings per diluted share||$0.08||$0.18|
Cash, cash equivalents, and marketable securities
Net cash provided by operating activities
As previously announced, beginning in the second quarter of 2016, GAAP revenue and cost of revenue – TAC are impacted by a required change in revenue presentation related to the Eleventh Amendment to the Microsoft Search Agreement (“Change in Revenue Presentation,” as discussed below). For the first quarter of 2017, the Change in Revenue Presentation contributed $304 million to each of GAAP revenue and cost of revenue – TAC. Excluding the impact of this change, GAAP revenue would have been $1,023 million, a 6 percent decrease from the first quarter of 2016, and cost of revenue – TAC would have been $190 million, a 17 percent decrease from the first quarter of 2016.
- Doubled the number of users enrolled in Yahoo Account Key in Q1 2017, allowing users to more easily sign in to their Yahoo account using their mobile phone.
- Updated Yahoo Answers Now with new engagement features like social sharing, question of the day, and notification controls.
- Launched Captain, a mobile bot assistant to help users manage lists and reminders, and coordinate family or group activities.
- Introduced new features on Yahoo Mail including Caller ID to integrate contact information from emails, and improved email search to surface most relevant “Top Results”.
- Launched a newly designed Yahoo Homepage featuring News, Sports, and Finance alignment to make content more easily discoverable and personalized for users.
- Livestreamed coverage of the Presidential Inauguration on Yahoo News, the NBA Trade Deadline on Yahoo Sports’ The Vertical, and Yahoo’s inaugural All Markets Summit on Yahoo Finance.
- Yahoo Sports launched Tourney Pick’em game with brand partnerships from Lexus and Pizza Hut, Yahoo Fantasy Baseball with rich data and featured MLB “Game of the Day” video content, and Yahoo Daily Fantasy in the UK.
The following information was filed by Yahoo Inc (YHOO) on Tuesday, April 18, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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