Yahoo! (YHOO) Reports 2Q'14 (Yahoo! Unhappy With Revenues)

Yahoo! (YHOO) reported 2Q'14 results after the market closed today. CEO Marissa Mayer started the press release with the following sentence: "Our top priority is revenue growth and by that measure, we are not satisfied with our Q2 results."

Two items from the 2Q'14 press release.

"Cash, cash equivalents, and investments in marketable securities were $4.3 billion as of June 30, 2014 compared to $5 billion as of December 31, 2013, a decrease of $0.7 billion."

"During the second quarter of 2014, Yahoo repurchased approximately 21 million shares for $719 million."

I liked the following paragraph from the 2Q'14 press release.

"We are pleased to announce today that we have entered into an amendment to the share repurchase agreement with Alibaba, reducing the number of shares that Yahoo is required to sell at the IPO from 208 million shares to 140 million shares. In addition, we are aware that there has been much discussion around the allocation of the Alibaba IPO proceeds. We would like to take this opportunity to let our investors know that we are committed to return at least half of the after-tax IPO proceeds to shareholders, in line with our overarching commitment to maximizing shareholder value through prudent capital allocation."

YHOO closed today (02014.07.15) at $35.61. 52-week range: $26.73 - $41.72.