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A Yahoo! billboard is seen in New York's Time's Square January 25, 2010.
Credit: Reuters/Brendan McDermid
By Alexei Oreskovic
SAN FRANCISCO |
Mon Oct 22, 2012 4:47pm EDT
SAN FRANCISCO (Reuters) - Yahoo Inc's quarterly earnings beat expectations, but Wall Street remains keen to hear new CEO Marissa Mayer outline her plan for reviving the struggling Web company's revenue growth.
Yahoo shares were up about 3 percent at $16.23 in after hours trading on Monday.
Mayer, a former Google Inc executive who took charge at Yahoo in July, is expected to make her first public remarks about her vision for Yahoo during the company's conference call with analysts later on Monday.
Excluding a $2.8 billion gain related to the sale of Alibaba Group shares, Yahoo said it earned $177 million in income from operations and adjusted net earnings of 35 cents per share.
Analysts polled by Thomson Reuters I/B/E/S were looking for adjusted EPS of 25 cents.
Net revenue, which excludes fees paid to partner websites, was $1.09 billion compared with $1.07 billion in the year ago period.
Roughly 700 million users visit a Yahoo website every month - putting it in the top ranks globally. But the amount of activity people engage in on many sites is steadily declining and its smartphone offerings are deemed lackluster.
Mayer is expected to focus on revamping Yahoo's technology and products, shifting course from the media-centric approach embraced by her immediate predecessor Ross Levinsohn.
Yahoo ended the quarter with 12,000 employees, down more than 12 percent from 13,700 a year earlier.
(Reporting By Alexei Oreskovic. Editing by Andre Grenon)
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