Yahoo announced its revenue and earnings for the latest quarter that beat Wall Street analysts’ estimates.
Shares of Yahoo were up over 9% in trading afterhours on Tuesday, as of the close of business on Monday, the stock had fallen by 15% since the same time one year ago.
The company announced earnings for the first quarter excluding items of 38 cents per share, which was unchanged from last year during the same quarter.
Analysts were expecting Yahoo earnings to be 37 cents a share excluding certain items on revenue of $1.08 billion.
On the basis of GAAP, the company announced earnings of 29 cents a share on revenue of $1.13 billion, compared to 35 cents a share and revenue of $1.14 billion last year during the same reporting period. Revenue from display, ex-TAC was up by 2% to end the quarter at $409 million compared to the same period last year of $402 million.
Marissa Mayer, the CEO at Yahoo announced in a prepared statement that she was pleased with the performance of the first quarter which was their best first quarter revenue ex-TAC in four years.
Since Mayer came onboard at Yahoo in 2012 as the CEO the stock at the company has doubled, but some Wall Street insiders say that Yahoo’s growth primarily has been driven by the 24% stake the company has in Alibaba, the e-commerce company based in China.
Earlier in April, a report that cited people close to the matter, said that Yahoo was looking into high-end video, including comedies with budgets into the millions of dollars. The company is expected to unveil its new content in late April, according to the earlier report.
In yet another report in March, the tech company is said to be in early talks with News Disruption Network a service for online videos that would increase the video programming online for the company as well as its advertising revenue from video.
