SUNNYVALE — Yahoo Inc. reported results for the quarter ended March 31, 2017.
The company had revenues of $1.32 billion, up from $1.08 billion a year ago. Net earnings were $99 million for the quarter.
The core Yahoo business is set to be officially acquired by Verizon in the next few months.
Yahoo had $8.0 billion in cash and marketable securities at the end of the quarter.
Mavens revenue at Yahoo was $520 million. This represented 38 percent of traffic-driven revenue in the first quarter of 2016, and increased to 42 percent in the first quarter of 2017. “Mavens revenue” is revenue generated from, without duplication: (i) mobile, (ii) video ads and video ad packages, (iii) native ads, and (iv) Tumblr and Polyvore ads and fees.
Non-mavens revenue was $742 million. “Non-Mavens revenue” is revenue generated from search ads and traditional (i.e., non-native, non-video, non-Tumblr, non-Polyvore) display ads served on Desktop computers and also includes leads, listings, and fees revenue and ecommerce revenue allocated to user activity on Desktop computers.
“Our Q1 performance reflects solid financial and operational execution in the new year, with more than $1.3 billion in GAAP revenue delivered. These results are the product of our teams’ tremendous focus and dedication to our users and advertisers,” said Marissa Mayer, CEO of Yahoo. “As we enter our final quarter as an independent company, we are committed to finishing strong and planning for the best possible integration with Verizon. With the transaction anticipated to complete in June, I’ve never been more proud of the improvements we’ve made to the business and the value we’ve delivered to our shareholders.”
“We feel incredibly proud that we executed so well against our 2016 plan and kicked off 2017 on a positive note by achieving our internal operating goals,” said Ken Goldman, CFO of Yahoo. “Not only did we meet our internal GAAP revenue goal of $1.3 billion, but we also continued managing our capital and cash operating expenditures closely, ending the quarter with over $8 billion in cash, cash equivalents, and marketable securities, representing an increase of nearly $900 million year over year. As we prepare to close the sale of this iconic company to Verizon, I’m very pleased with what we have accomplished with regard to the achievement of our operating and financial plans.”