SUNNYVALE, Calif. – SUNNYVALE, Calif. (AP) _ Yahoo Inc. (YHOO) on Tuesday reported a first-quarter loss of $99.2 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Sunnyvale, California-based company said it had a loss of 10 cents. Earnings, adjusted for one-time gains and costs, came to 8 cents per share.
The results topped Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share.
The Internet media company posted revenue of $1.09 billion in the period. After subtracting Yahoo’s advertising commissions, revenue was $859.4 million, also beating Street forecasts. Nine analysts surveyed by Zacks expected $846.1 million.
Yahoo shares have increased 9 per cent since the beginning of the year, while the Standard & Poor’s 500 index has risen almost 3 per cent. In the final minutes of trading on Tuesday, shares hit $36.33, a drop of 19 per cent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on YHOO at http://www.zacks.com/ap/YHOO
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