Yahoo announced its third quarter earnings on Tuesday, noting $1.08 billion in revenue and an earnings per share of $0.34 cents, beating Wall Street expectations of $0.33 EPS. Despite meeting expectations, the company’s earnings are down 13 percent from the second quarter of this year when it reported a record $1.22 billion in revenue.
Yahoo said its total ads sold increased about 1 percent over the same quarter last year, while price per ad increased 7 percent. Those figures don’t include Korea, Yahoo noted in its earnings release. The company also said it is now also only required to sell 208 million shares of Alibaba during company’s IPO, down from the original requirement of 261.5 million shares.
The company also noted its acquisitions during the third quarter, which included IQ Engines, Rockmelt, Lexity, Ztelic, Admovate, Xobni, Qwiki and Bignoggins. The company has been using most of its acquisitions to boost existing products, such as its iPhone applications.
“I’m very pleased with our execution, especially as we’ve continued to invest in and strengthen our core business,” Yahoo CEO Marissa Mayer said. “In Q3, we launched new user experiences across many of our digital daily habits — Yahoo Screen, My Yahoo, Fantasy Sports, and more.” Mayer also noted that Yahoo now has 800 million monthly users, which is a 20 percent bump from 15 months ago.
Shares of Yahoo closed the day down 1.82 percent at $33.38 and at the time of publication were trading after hours up 0.60 percent at $33.58.