Yahoo shares rise as company beats third-quarter expectations
SAN FRANCISCO -- Yahoo just gave investors a little something to yodel about.
Third-quarter revenue and profit both topped analysts’ expectations, boosting shares in after-hours trading.
Yahoo is up 48 cents, or 3%, to $16.25.
The Sunnyvale, Calif., company posted third-quarter earnings of 35 cents per share, up from 23 cents a share in the same period last year. Revenue rose 2% to $1.09 billion, up from $1.07 billion a year earlier. Analysts had expected the company to report earnings of 26 cents a share on $1.08 billion in revenue.
It’s an auspicious debut for new Yahoo Chief Executive Marissa Mayer, the former Google executive brought in three months ago to pull Yahoo out of its prolonged slump. Analysts will be listening closely this afternoon on the quarterly conference call for any clues Mayer may drop about her comeback plans for Yahoo.
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