Yahoo’s Net Earnings Up 28%
Yahoo is showing some signs of life yet. The search and media giant released its Q1 results for 2012 and by all accounts the company is not doing as bad as many on Wall Street had predicted.
First quarter GAAP revenue was $1.22 billion, and although this amount was only a modest 1% increase on Q1 of 2011, the fact that revenues were up was big news for Yahoo.
The real story though as was with net income and Yahoo bettered expectations to the tune of 28%, reporting net income of $286 million. This improved year-on-year performance was the best Yahoo had done since 2008. Needless to say the news of improved earnings and net income figures acted as de facto thumbs up for new CEO Scott Thompson who has been on a tear since taking over.
The good news also translated well for the company’s share price which rose 2.4% on after-hours trading. Its perhaps too soon to crown Thompson as the ‘savior’ of Yahoo but if things continue on the current path, it may only be a matter of time before that is said.
Perhaps this fresh beginning can translate into a new beginning for Yahoo staff around the globe. There has been talk in recent times of impending layoffs. If revenues continue to climb, the cuts may not be as bad as first thought.