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Tuesday, 23 October 2012 - Yahoo third-quarter profit beats forecast |
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Jack Dorsey’s impractical double duty Related Topics Investing Simplified » Tech » Media » 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) Investing Simplified Tech Media Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints   We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.   Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Back to top Reuters.com Business Markets World Politics Technology Opinion Money Pictures Videos Site Index Legal Bankruptcy Law California Legal New York Legal Securities Law Support & Contact Support Corrections Connect with Reuters Twitter   Facebook   LinkedIn   RSS   Podcast   Newsletters   Mobile About Privacy Policy Terms of Use AdChoices Copyright Our Flagship financial information platform incorporating Reuters Insider An ultra-low latency infrastructure for electronic trading and data distribution A connected approach to governance, risk and compliance Our next generation legal research platform Our global tax workstation Thomsonreuters.com About Thomson Reuters Investor Relations Careers Contact Us   Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. 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