Yahoo! beats by $0.08, reports revs in-line
Reports Q4 (Dec) earnings of $0.46 per share, $0.08 better than the Capital IQ Consensus Estimate of $0.38; revenues fell 1.7% year/year to $1.2 bln vs the $1.2 bln consensus.
Display:
GAAP display revenue was $553 million for the fourth quarter of 2013, a 6 percent decrease compared to $591 million for the fourth quarter of 2012. Display revenue ex-TAC was $491 million for the fourth quarter of 2013, a 6 percent decrease compared to $520 million for the fourth quarter of 2012.
The Number of Ads Sold (excluding Korea) increased approximately 3 percent compared to the fourth quarter of 2012.
Price-per-Ad (excluding Korea) decreased approximately 7 percent compared to the fourth quarter of 2012.
Search:
GAAP search revenue was $464 million for the fourth quarter of 2013, a 4 percent decrease compared to $482 million for the fourth quarter of 2012. Search revenue ex-TAC was $461 million for the fourth quarter of 2013, an 8 percent increase compared to $427 million for the fourth quarter of 2012.
Paid Clicks (excluding Korea) increased approximately 17 percent compared to the fourth quarter of 2012.
Price-per-Click (excluding Korea) decreased approximately 3 percent compared to the fourth quarter of 2012.
Cash, cash equivalents, and investments in marketable securities were $5 billion as of December 31, 2013 compared to $6 billion as of December 31, 2012, a decrease of $1 billion. During the fourth quarter of 2013, Yahoo repurchased 6 million shares for $231 million and used a net $60 million for acquisitions. During the year ended December 31, 2013, Yahoo repurchased 129 million shares for $3.3 billion and used a net $1.2 billion for acquisitions. During the fourth quarter of 2013, Yahoo received net proceeds of $1.3 billion, which is net of the call spread, from the issuance of 0.00% Convertible Senior Notes due 2018 and net proceeds of $295 million from the settlement of derivative hedge contracts.