>>> Yahoo! beats by $0.06, reports revs in-line; guides Q4 revs below consensus

Yahoo! beats by $0.06, reports revs in-line; guides Q4 revs below consensus
--> +1.6% in after hours
  • Reports Q3 (Sep) earnings of $0.20 per share, excluding non-recurring items, $0.06 better than the Capital IQ Consensus of $0.14; revenues fell 14.6% year/year to $857 mln vs the $860.82 mln Capital IQ Consensus.
  • Q3 Maven (Mobile, Video, Native and Social)
    • Revenue +24% y/y; Q2 +26% y/y
    • Q3 Mobile revenue represented 32% y/y of traffic-driven revenue; Q2 +46% y/y
  • Q1 Search Revenue:
    • Gross search revenue -14% y/y; Q2 -13% y/y
    • Number of Paid Clicks -22% y/y; Q2 -22% y/y
    • Price-per-Click +9% y/y; Q1 +8% y/y Q1
  • Display Revenue:
    • GAAP display revenue -7% y/y; Q2 -7% y/y
    • Number of Ads Sold -5% y/y; Q2 +9% y/y
    • Price-per-Ad +1% y/y; Q2 -15% y/y
  • Co issues downside guidance for Q4, sees Q4 revs of $880-920 vs. $939.30 mln Capital IQ Consensus Estimate; ; Adjusted EBITDA in the range of $260-300 mln.
  • Tightens FY16 revenue guidance to $3.440-3.480 bln ex tac (Prior$3.4-3.6 bln); Raises adjusted EBITDA to $810-850 mln (Prior adj. EBITDA $700-800 mln).