Yahoo!’s Q1 Results

Hi All-

Scott Thompson here signing on for the first time on Yahoo!'s Yodel Anecdotal blog. And this won't be the last time. My team and I plan to post here regularly to share news and what's going inside and outside our business.

Today Yahoo! announced Q1 results with revenue and profits coming in on the high end of our guidance range and beating Wall Street expectations. Revenue grew by one percent over last year, marking the first year over year growth since the third quarter of 2008 - almost four years.

Some other highlights about the quarter included:

  • Revenue ex-TAC of $1,077 million exceeded consensus, 1% year over year growth
  • Net earnings of $286 million, 28% year over year growth
  • EPS of $0.23, 38% growth year over year
  • Operating income of $169 million, exceeding the top end of our guidance range
  • Worldwide visitors to Yahoo! branded sites increased 7%
  • Media properties page views increased 10%
  • Minutes spent on communications and communities increased 14% and 8% in media properties

These results are clearly the right direction for our business and I am very excited about our opportunities ahead. I know we can deliver even more with our new structure, business priorities and clear focus. I am more convinced than ever of the value of our assets and the potential of this business.

If you'd like to hear the call and access the press release, please visit investor.yahoo.net.

Thanks,
Scott

For GAAP revenue and a reconciliation to non-GAAP revenue ex-TAC, please see our earnings presentation.