Tuesday, October 15, 2013

Yahoo! (YHOO) Reports 3Q'13 Results

Yahoo! (YHOO) reported 3Q'13 results after the market closed. It was 1:09pm Arizona Time when I decided to look to see how YHOO was doing after hours. If % change was green, then earnings must have been acceptable; otherwise, red would imply disappointment. Percent change was green and YHOO was up over 6%. 10 minutes later it was up only 2%. What does this mean for YHOO tomorrow? I haven't a clue.

I liked the following Yahoo! announcement.

Yahoo also announced today that it has entered into an amendment to the share repurchase and preference sale agreement with Alibaba Group. The amendment reduces the maximum number of shares of Alibaba Group that Yahoo is required to sell in connection with a qualified initial public offering of Alibaba, from 261.5 million shares to 208 million shares.

And I liked the following.

"In Q3, we generated free cash flow of $249 million and returned an additional $1.7 billion to shareholders through buybacks," said Ken Goldman, CFO of Yahoo. "As we exit Q3, we are extremely pleased with the strength of our balance sheet, with nearly $3.2 billion in cash and securities, and we are well positioned with ample liquidity to fund our future investments for growth."

YHOO closed today (02013.10.15/Petascale Day/Ada Lovelace Day) at $33.38. 52-week range: $33.06 - $34.32.

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