From The Wall Street Journal:”
Yahoo Inc. on Tuesday posted a 14% drop in its core revenue, reflecting the continued deterioration of its advertising business and raising more questions about the future of Verizon Communications Inc.’s deal to buy Yahoo.
The revenue drop to $857.7 million, which excludes commissions paid to partners for web traffic, marks the seventh decline in the past eight periods for this key metric. Revenue from “Mavens”—a grouping Yahoo introduced to track mobile, video, native and social ads—rose 24% to $524 million.
Yahoo reported quarterly earnings of $162.8 million, or 17 cents a share, and 20 cents a share excluding certain expenses. Analysts, on average, expected the company to post adjusted earnings per share of 14 cents, according to Thomson Reuters. A year ago, the company posted adjusted earnings of 15 cents a share.
Overall revenue rose 6.5% in the third quarter to $1.23 billion, helped by a recent change in how the company reports revenue.
The earnings report comes as clouds gather around Verizon’s $4.8 billion deal following Yahoo’s disclosure last month of a data breach affecting more than 500 million accounts, one of the largest thefts of personal data to date. The internet company said “state-sponsored” hackers penetrated its network in late 2014 and stole personal data including names, dates of birth and encrypted passwords.
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More at the Wall Street Journal:
http://www.wsj.com/articles/yahoo-core-revenue-drops-again-1476822440
