Yahoo has just reported its Q1 earnings, with ex-TAC revenues of $1.087 billion and earnings per share of $0.38, and net income of $314 million.
That just about beat analysts’ expectations on revenue: they were expecting ex-TAC sales of $1.08 billion (First Call estimates were $1,076.9 million).
Yahoo had provided adjusted earnings guidance earlier this year of between $290 million and $330 million.
[Yahoo defines “revenue ex-TAC” as “a non-GAAP financial measure defined as GAAP revenue less TAC. TAC consists of payments made to third-party entities that have integrated our advertising offerings into their Websites or other offerings (those Websites and other offerings, “Affiliate sites”) and payments made to companies that direct consumer and business traffic to Yahoo’s online properties and services (“Yahoo Properties”).”]
This quarter last year, Yahoo reported revenues of $1.07 billion and earnings of $0.38 per share.
“I am really pleased by our first quarter…
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