Yahoo! Reports Second Quarter 2013 Results
July 16, 2013
SUNNYVALE, Calif. — Yahoo! Inc. (NASDAQ: YHOO) today reported results for the quarter ended June 30, 2013.
| Q2 2012 | Q2 2013 |
Percent
Change |
|||||||
| GAAP revenue | $1,218 million | $1,135 million | (7)% | ||||||
| Revenue ex-TAC | $1,081 million | $1,071 million | (1)% | ||||||
| GAAP income from operations | $55 million | $137 million | 150% | ||||||
| Non-GAAP income from operations | $240 million | $209 million | (13)% | ||||||
| GAAP net earnings per diluted share | $0.18 | $0.30 | 68% | ||||||
| Non-GAAP net earnings per diluted share | $0.30 | $0.35 | 19% | ||||||
“I’m encouraged by Yahoo!’s performance in the second quarter. Our business saw continued stability, and we launched more products than ever before, introducing a significant new product almost every week,” said Yahoo! CEO Marissa Mayer. “From the new Yahoo! News, the new Yahoo! Sports app, the redesigned Yahoo! search, the new Flickr, the new Yahoo! Mail for tablet, the Yahoo! Weather app, our new Yahoo! app with Summly – this quarter drove tremendous improvements in our product line and our users responded with increased usage and engagement.”
GAAP revenue was $1,135 million for the second quarter of 2013, a 7 percent decrease from the second quarter of 2012. Revenue excluding traffic acquisition costs (“revenue ex-TAC”) was $1,071 million for the second quarter of 2013, a 1 percent decrease compared to the second quarter of 2012.
Adjusted EBITDA for the second quarter of 2013 was $369 million, a 7 percent decrease compared to the same period of 2012.
GAAP income from operations was $137 million for the second quarter of 2013, a 150 percent increase from the second quarter of 2012 (which reflected a restructuring charge of $129 million ). Non-GAAP income from operations was $209 million for the second quarter of 2013, a 13 percent decrease from the second quarter of 2012.
GAAP net earnings for the second quarter of 2013 was $331 million, a 46 percent increase from the same period of 2012. Non-GAAP net earnings for the second quarter of 2013 was $386 million, a 6 percent increase from the same period of 2012.
GAAP net earnings per diluted share was $0.30 in the second quarter of 2013, compared to $0.18 in the second quarter of 2012. Non-GAAP net earnings per diluted share was $0.35 in the second quarter of 2013, compared to $0.30 in the second quarter of 2012.
