Yahoo CEO Marissa Mayer
Beginner's luck?
Marissa Mayer's first day the job coincided with a second quarter earnings report that beat Wall Street's expecatations.
Shares of Yahoo were up more than 1% in after-hours trading as the company reported $1.22 billion in revenue, versus $1.23 billion during the same quarter a year earlier. The company's Q2 profit was flat at 18 cents a share.
The news followed by a day the surprise selection of Mayer, whom it plucked from Google.
- Display revenue not including traffic acquisition costs was $473 million, down 1 percent compared to $467 million for the second quarter of 2011.
- GAAP display revenue was $535 million, up 2 percent compared to $524 million during the year-ago quarter
- Search revenue ex-TAC was $385 million, up 4 percent increase from $371 million for the second quarter of 2011.
- GAAP search revenue was $461 million, down 1% compared to $467 million for the second quarter of 2011.
Despite a generally warm reception to her appointment, Mayer has a formidable job ahead. Mark Mahaney said that while he had high regards for Mayer's talents, she'll be up against challenges that he described as "substantial." In a research note, he wrote:
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