Yahoo Profit Misses Estimates

(RTTNews) - Yahoo! Inc (YHOO) on Tuesday reported first-quarter net earnings of $21.2 million or $0.02 per share compared with $311.6 million or $0.29 per share last year.

Results for the quarter included, among other items, restructuring charges of $51.2 million and stock-based compensation expense of $115.7 million.

Excluding items, adjusted earnings for the quarter were $0.15 per share compared with $0.38 per share a year ago.

On average, 32 analysts polled by Thomson Reuters estimated earnings of $0.18 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter rose to $1.23 billion from $1.13 billion last year.

Excluding traffic acquisition costs, revenues were lower at $1.04 billion compared with $1.09 billion a year ago, as both search and display revenues slackened.

Thirty-three analysts had a consensus revenue estimate of $1.06 billion for the quarter.

Yahoo shares were losing $0.97 or 2.18% at $43.52 in after-hours trading on the Nasdaq.