×
156
Fashion Jobs
LIFESTYLE BRANDS
Area Manager-Projects Execution (Telangana &Amp; Andra Pradesh)-Hyderabad
Permanent · BENGALURU
LIFESTYLE BRANDS
Brand Financial Manager - Bangalore
Permanent · BENGALURU
LIFESTYLE BRANDS
Brand Training Manager, Planet Fashion - Bangalore
Permanent · BENGALURU
DA MILANO LEATHERS PRIVATE LIMITED
Assistant Manager- Payroll
Permanent · DELHI
UNIVERSAL MANAGEMENT CONSULTANTS
Head of Human Resource
Permanent · BENGALURU
UNIVERSAL MANAGEMENT CONSULTANTS
Head of Human Resource
Permanent · DELHI
KOELLE DESIGNS PRIVATE LIMITED
Assistant Manager Purchase
Permanent · JAIPUR
CAREERMARK 6
HR Manager
Permanent · HIRIYUR
LINEN DESIGN COMPANY PVT.LTD
Senior Corporate Sales Manager
Permanent · GURUGRAM
UNITED HR SOLUTIONS PVT LTD
Business Development
Permanent · AHMEDABAD
AND DESIGNS INDIA LTD.
Buyer & Planner
Permanent · NAVI MUMBAI
GREENFIELD RESOURCES PVT. LTD.
Business Development Executive
Permanent · AHMEDABAD
GENIUS CONSULTANTS LIMITED
Head of Department - Cost Accountant
Permanent · KOLKATA
LIFESTYLE BRANDS
Brand Training Manager, Peter England - Bangalore
Permanent · BENGALURU
PLACEMENT PANDITS CONSULTING
Operations Manager-Garment Industry
Permanent · GURUGRAM
LIFESTYLE BRANDS
Area Sales Manager-Patna
Permanent · BENGALURU
LIFESTYLE BRANDS
Group Manager - E-Commerce Product (B2B)
Permanent · BENGALURU
LIFESTYLE BRANDS
Manager - Product, Louis Philippe
Permanent · BENGALURU
PANTALOONS HO
Senior Executive - Marketing
Permanent · PUNE
LIFESTYLE BRANDS
Manager - Trade Channel, Finance
Permanent · BENGALURU
LIFESTYLE BRANDS
Assistant Manager- Design, Casuals- pe
Permanent · BENGALURU
LIFESTYLE BRANDS
Executive -Key Accounts (Mis),lp
Permanent · BENGALURU

Yahoo profit beats estimates as emerging businesses shine

By
Reuters
Published
today Oct 19, 2016
Reading time
access_time 2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Yahoo Inc reported better-than-expected quarterly adjusted profit on Tuesday, a boost for the beleaguered company whose deal to sell its core business to Verizon Communications Inc has been shaken by a massive data breach.

Verizon's general counsel said last week that the hack, which affected at least 500 million email accounts in 2014, could have a material impact, possibly allowing Verizon to withdraw from the $4.83 billion deal.


Marissa Mayer, CEO of Yahoo


Tuesday's results provided at least an initial indication that the data breach has not led to a quick exodus of Yahoo customers, as some had feared. Customer trends showed growth in pageviews and email usage, Yahoo said.

Another positive sign for Yahoo was that revenue from Mavens - the mobile, video, native and social advertising units that Chief Executive Marissa Mayer touts as its emerging businesses - rose 24.2 percent to $524 million.

Still, the business showed continuing declines in major revenue categories. Gross search revenue fell 14.1 percent to $752.5 million.

Total revenue rose 6.5 percent to $1.31 billion, beating the average analyst estimate of $1.30 billion, according to Thomson Reuters I/B/E/S. But after deducting fees paid to partner websites, revenue fell to $857.7 million from $1 billion.

Yahoo said on Friday it would not hold a call or webcast after the release of the results, citing the Verizon deal.

Analysts at Needham & Co said in a note on Tuesday that decision troubled them, given the doubt cast over the Verizon deal by the data hack, as they cut their rating on Yahoo to 'hold' from 'buy'.

Yahoo's shares were up about 1.4 percent in extended trading after the close on Tuesday.

For the third quarter ended Sept. 30, net income attributable to Yahoo rose to $162.8 million, or 17 cents per share, from $76.3 million, or 8 cents per share, a year earlier.

Excluding some items, the company earned 20 cents per share, beating analysts' average estimate of 14 cents.

Verizon plans to combine Yahoo's search, email and messenger assets as well as advertising technology tools with its AOL unit, which it bought last year for $4.4 billion.

The deal would transform Yahoo into a holding company, with a 15 percent stake in Chinese e-commerce company Alibaba Group Holding Ltd and a 35.5 percent interest in Yahoo Japan Corp as well as Yahoo's convertible notes, certain minority investments and its non-core patents.

The deal is expected to close in early 2017, after which Yahoo plans to change its name and become a publicly traded investment company.
 

© Thomson Reuters 2020 All rights reserved.

Tags :
Others
Business