In the third quarter Yahoo managed to have mostly positive notes on their major indicators with growth in revenue, earnings, and of course EPS. Sadly, revenue only eked up a mere 2% year over year at a time when many other internet companies are showing strong results.
That aside, income from operations was up 80% year of year, and net earnings per diluted share was up 126%. Some of this was due to the one time sale of HotJobs.
Gross revenue was 1.6 billion dollars for the quarter, right in line with the expectations from the street. Operating income was above expectations at $189 million, but net revenue came in $10 million below expectation at $1.12 billion against a forecasted $1.13 billion.
The company has been under fire in recent months for not having a clear direction for revenue growth or their larger product. This quarter will assist in stemming some of the criticism, but will not completely stop it.
In after hours trading at the time of this article, Yahoo’s stock was down 0.77% after a 2.73% decline on the day before the earnings report.