Marissa Mayer’s Report Card, Yahoo Releases First Earnings Statement Under New CEO

Yahoo CEO Marissa Mayer only recently took over Yahoo’s global operations, but her first quarter is already being called a “solid” outing by analysts. According to Yahoo’s Q3 2012 earnings, the company exceeded expectations with $1.089 billion in revenue, a 2 percent increase over the same period in 2011.

Here is a snippet of Yahoo’s published earnings report:

“Revenue excluding traffic acquisition costs (“Revenue ex-TAC”) was $1,089 million for the third quarter of 2012, a 2 percent increase compared to the third quarter of 2011. GAAP revenue was $1,202 million for the third quarter of 2012, a 1 percent decrease from the third quarter of 2011.

“Excluding restructuring charges for both years, operating income on a non-GAAP basis was $177 million in the third quarter of 2012 compared to $175 million in the third quarter of 2011. On a GAAP basis, income from operations decreased 14 percent to $152 million in the third quarter of 2012, compared to $177 million in the third quarter of 2011.

“In the third quarter of 2012, non-GAAP net earnings per diluted share increased 66 percent year over year to $0.35. Non-GAAP net earnings per diluted share for the third quarter of 2012 excludes a net gain of $2.8 billion related to the sale of Alibaba shares and restructuring charges of $16 million, net of tax. On a GAAP basis, net earnings per diluted share was $2.64 in the third quarter of 2012, compared to $0.23 in the third quarter of 2011.”

Yahoo is known for sharing information about its user engagement and other user metrics, info that was missing from its newest earnings report.

The company’s sudden turnaround shifted stock prices upwards by 48 cents to $16.25, a 3 percent increase.

Speaking of the company’s quarter Mayer added:

“Yahoo had a solid third quarter, and we are encouraged by the stabilization in search and display revenue. We’re taking important steps to position Yahoo! for long-term success, and we’re confident that our focus on quality and improving the user experience will drive increased value for our advertisers, partners and shareholders.”

Are you surprised by Yahoo’s sudden turnaround?