Monday, October 22, 2012

Yahoo! Reports 3Q'12 Results

Yahoo! (YHOO) reported 3Q'12 results after the market closed on 02012.10.22. It was Yahoo!'s first quarterly results under new CEO Marissa Mayer.
"Yahoo! had a solid third quarter, and we are encouraged by the stabilization in search and display revenue," said Marissa Mayer, CEO of Yahoo!. "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."

YHOO closed on 02012.10.22 at $15.77. 52-week range: $14.35 - $16.75.

I liked the following from Yahoo!'s 3Q'12 press release.

"Free cash flow was $920 million for the third quarter of 2012, a 273 percent increase compared to $247 million for the same period of 2011."

"During the third quarter of 2012, Yahoo! repurchased 12 million shares for $190 million."

"In October 2012, Yahoo! entered into a 364-day, $750 million unsecured revolving credit facility. The facility is currently undrawn and is expected to be used for general corporate purposes."

[update::02012.10.23] YHOO hit a new 52-week high of $16.79 before closing at $16.77. Volume was 71.3 million vs. t3m-avg of 18.2 million. I guess Wall Street is thinking Mayer is off to a good start at Yahoo!'s CEO.

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