Update: Erick is live blogging the earnings call.
Yahoo released Q1 financials moments ago, and blew through expectations. Total revenue for the quarter was $1.8 billion, net revenues were $1.35 billion. Net Income was $542 million, or $0.37 per share. That includes a one time non-cash gain related to Alibaba’s IPO. Net of that, EPS are $0.11.
Analysts were expecting Q1 net revenues of around $1.33 billion, ebitda of $435 million and EPS of $0.09/share. Citigroup had revised estimates of $1.34 billion, just under the reported results.
Other interesting tidbits:
What does this mean for Yahoo? Probably not much relative to other things going on, although it is certainly good news for them. A very high percentage of Yahoo’s stock is in the hands of arbitrageurs, however, who are focused only on whether or not the deal with Microsoft will happen or not, as opposed to the fundamental financial health of the company. They’ll be listening closely to the earnings call at 2 pm PST for messages about the Yahoo search deal with Google. All indications suggest that Yahoo is getting a roughly 100% revenue increase from search queries outsourced to Google.
We’ll be live blogging the earnings announcement at 2 pm.