Yahoo posts lacklusture Q1’16 results as sale looms
The under pressure internet company posted Q1 revenue of $1.09 billion as opposed to $1.23 billion for the same period last year.
Published - Apr 21, 2016 5:38 PM Updated: Apr 21, 2016 5:38 PM
The internet company, which is courting potential buyers as it looks to offload its core business of content and search, posted Q1 revenue of $1.09 billion as opposed to $1.23 billion for the same period last year.
MaVeNS revenue (Mobile, Video, Native and Search) saw a YoY increase ending at $390 million as opposed to $365 million in Q1’15. Revenue from mobile saw a slight increase in Q1’16 and ended at $260 million as opposed to $234 million in Q1’15. However, desktop revenues fell YoY. Mobile revenue represented 21 per cent of traffic-driven revenue in the first quarter of 2015, and increased to 25 per cent in the first quarter of 2016.
Yahoo also revealed that the number of ads sold increased 8 per cent compared to the first quarter of 2015, while price-per-ad decreased 6 per cent compared to the first quarter of 2015.
"We delivered financial results at the high end or above our guidance ranges. We also achieved free cash flow of $297 million through improved working capital efficiencies, excellent cost controls, reduced capital expenditures and a large tax refund," said Ken Goldman, CFO of Yahoo. "While we remain focused on the strategic alternatives process as a top priority, our employees showed their determination and commitment to Yahoo by executing on our operating plan."
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