We have earnings out of Jerry Yang and friend, a.k.a. Yahoo! Inc. (NASDAQ: YHOO). The troubled internet search and content posted $0.10 non-GAAP EPS (which looks more like about $0.095 on the total when you add up items) and $1.35 in ex-TAC revenues. First Call had estimates pegged at $0.12 EPS (rounded up from $0.11+) on $1.37 Billion in revenues.
The company put its guidance for next quarter at $1.78 to $1.98 Billionwith operating income of $405 to $465 million and put 2008 revenueguidance of $7.35 to $7.85 Billion with operating income at $1.825 to$1.975 Billion. Unfortunately, those look like ex-TAC revenues
For next quarter estimates are $0.12 EPS on $1.4 Billion in revenuesand Fiscal December-2008 estimates are $0.48 EPS on $5.72 Billion inrevenues; but again, our estimates were ex-TAC revenues rather thantotal revenues.
Shares closed down 1.25% in regular trading at $21.40 and the initialresponse in after-hours trading has shares trading up marginally byalmost 1% at $21.59. Whether or not that holds will depend on how wellJerry Yang and friends are able to handle the Q&A session fromanalysts in the conference call.
Jon C. Ogg
July 22, 2008
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