Despite some upheaval following the sudden departure of former CEO Carol Bartz and the resurrection of Microsoft buyout rumors, Yahoo managed to deliver some good news for the third quarter of 2011.
Yahoo reported third quarter net earnings of $293 million, or 23 cents a share (statement). Non-GAAP earnings were 21 cents a share on a revenue excluding traffic acquisition costs of $1.072 billion, a 5 percent decrease from the third quarter of 2010.
Wall Street was looking for earnings of 17 cents a share on revenue $1.07 billion.
CFO and interim CEO Tim Morse summed up the quarter in a statement:
We’re pleased that revenue, operating income and EPS were all above consensus this quarter. My focus, and that of the whole company, is to move the business forward with new technology, partnerships, products, and premium personalized content — all with an eye toward growing monetization.
For the outlook, Yahoo is predicting a revenue of $1.125 billion to $1.235 billion at the end of Q4.
For the fourth quarter of 2011, Wall Street is looking for earnings of 22 cents a share on revenue $1.21 billion.
By the numbers: