Internet portal giant Yahoo has reported second quarter revenues of US$1.04bn, higher than expected and up 15pc on last year. However, the company’s earnings per share came in at 18 cents, down 51pc on last year.
Yahoo reported a net loss of US$45m, up from US$38m last year.
Total cost of revenue/traffic acquisition was US$200m, up from US$44m last year.
Key highlights from the quarter were the launch of a new mobile search experience in the US that lets people connect to each other as well as new features in Yahoo Mail and greater integration with Firefox, Twitter and LinkedIn.
The company also beefed up its digital content in terms of games like Yahoo Fantasy, daily live news programming, partnerships with the NFL and the continued partnership with Live Nation to stream live festival concerts.
Yahoo also introduced new formats for advertisers, including native video and video app-install ads.
Yahoo’s ongoing transformation
“I’m extremely pleased with our achievements in Q2, with revenue growing 15pc year-over-year, marking our most substantial GAAP revenue growth in almost nine years,” said Marissa Mayer, CEO of Yahoo.
“Our Mavens investment businesses across mobile, video, native and social grew to nearly US$400 million in revenue this quarter, delivering 60pc GAAP growth year-over-year.
“Further, our display business saw the most substantial revenue growth since 2010. Yahoo’s transformation continues to make great progress,” Mayer said.
Marissa Mayer image via Shutterstock
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