Yahoo Inc. (YHOO) swung to a net profit for the quarter ended Mar. 31, 2017. The company has made a net profit of $99.43 million, or $ 0.10 a share in the quarter, against a net loss of $99.23 million, or $0.10 a share in the last year period. On the other hand, adjusted net income for the quarter stood at $169.49 million, or $0.18 a share compared with $80.07 million or $0.08 a share, a year ago.
Revenue during the quarter grew 22.09 percent to $1,327.27 million from $1,087.15 million in the previous year period. Gross margin for the quarter contracted 958 basis points over the previous year period to 43.47 percent. Operating margin for the quarter stood at negative 4.43 percent as compared to a negative 15.38 percent for the previous year period.
Operating loss for the quarter was $58.75 million, compared with an operating loss of $167.21 million in the previous year period.
However, the adjusted operating income for the quarter stood at $73.20 million compared to $7.41 million in the prior year period. At the same time, adjusted operating margin improved 483 basis points in the quarter to 5.51 percent from 0.68 percent in the last year period.
"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, chief executive officer 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."
Operating cash flow drops significantly
Yahoo Inc. has generated cash of $214.46 million from operating activities during the quarter, down 41.37 percent or $ 151.31 million, when compared with the last year period.
Cash flow from investing activities was $46 million for the quarter as against cash outgo of $496.94 million in the last year period. It has incurred net capital expenditure of $60.26 million on net basis during the quarter, down 20.47 percent or $15.51 million from year ago period.
The company has spent $71.76 million cash to carry out financing activities during the quarter as against cash outgo of $33.50 million in the last year period.
Cash and cash equivalents stood at stood at $1,328.91 million as at Mar. 31, 2017.
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
