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Yahoo’s mobile revenues topped $200M in Q3 2014; APAC revenues at $182.2M

The revenues from the Asia Pacific region for Yahoo continues to decline: $182.2 million revenue for the quarter ended September 30, 2014, down 2.5% from $186.8 million revenues in the same quarter last year.

Including the traffic acquisition costs, the total revenue for the region was at $185.8 million for the quarter, down 6.6% from $198.9 million in the same quarter last year.

The region contributed for 16.7% of Yahoo’s total revenues (ex-TAC) for the quarter that was at $1.09 billion. In comparison, APAC region had contributed for 17.3% of Yahoo’s revenues in the same quarter last year and 17.1% of revenues in the previous quarter.

Yahoo Q3 2014 Geography

Profit increase due to Alibaba sale: Yahoo’s overall profits shot up to $6.8 billion for the quarter, from $297 million in the same quarter last year. However, this is primarily due to $6.3 billion earnings from the sale of Alibaba shares.

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The total revenues grew marginally to $1.15 billion for the quarter, from $1.14 billion in the same quarter last year while revenue ex-TAC also grew by 1% to $1.09 billion for the quarter from $1.08 billion in the same quarter last year.

Mobile revenues cross $200 million: Yahoo CEO Marissa Mayer attributed the increase in revenues to the strong growth in its new investment areas like mobile, social, native and video ads. She mentioned that these areas collectively grew by 80% year-over-year (YoY) and its mobile revenues crossed $200 million during the quarter.

Operational Highlights

– Yahoo completed the acquisition of the mobile app analytics & advertising firm Flurry, that was first announced in July this year. Yahoo mentions this acquisition will enable them to offer better mobile advertising solutions for brands along with cross-device insights.

Acqui-hired Bangalore-based document viewing solution provider Bookpad for a reported Rs 50 crore.

– Revamped and re-launched its 16-year old DIY e-commerce service as Yahoo Stores.

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Yahoo office

– Released new versions of Yahoo Finance app, Yahoo News Digest app & Yahoo Mail app for iPad, added digital magazines to its Android and iOS app, introduced new navigation for Yahoo Answers and made its homescreen launcher Aviate available in eight languages for Android devices.

– Signed a partnership with Samsung Smart TV to include Yahoo Fantasy Football within the Samsung Sports app. It also rolled out NFL Now on Yahoo offerings across desktop, iPhone and iPad.

– Launched a new Tumblr-based digital magazine Yahoo Style and introduced Yahoo Finance Contributors wherein a group of “expert” contributors will regularly create premium original content. The contributors include Najarian brothers, Carl Icahn, Linda Descano, Jim O’Shaughnessy, Joe Mansueto, Jeffrey Kleintop and Josh Brown among others. A full list of contributors here.

– Partnered with artists like Taylor Swift and Prince to provide exclusive content. Taylor Swift also conducted an exclusive livestream on Yahoo Screen in August this year.

Announced Yahoo Recommends, a publishing solution that offers personalized content recommendations and native advertising to publishers. Initial partners include CBSi, VOX Media and Hearst.

– Yahoo also laid several people from its Software Development Center in India. According to multiple sources MediaNama spoke with, this wasn’t a sudden move, but a part of Yahoo’s broader strategy to consolidate product ops in its Sunnywale office in United States. More on that here.

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Display revenues dips yet again

Display revenue ex-TAC has declined again to $396 million for the quarter, a 6% dip from $421 million in the same quarter last year. The total display revenue also saw a 5% decline YoY to $447 million for the quarter, from $470 million in the same quarter last year.

This is second straight quarter for Yahoo where display revenues (ex-TAC) has declined. In fact, display revenues (ex-TAC) has declined in nine of the past 10 quarters, with the only exception being Q1 2014 where it grew by 2% YoY.

Number of ads sold (excluding Korea) increased by 24% approximately YoY while the price-per-ad (excluding Korea) declined by 24% YoY.

Yahoo Q3 2014 Display

Search revenues grows for the 11th consecutive quarter

Search revenue ex-TAC grew by 6% YoY to $450 million for the quarter, from $426 million in Q3 2013. This is Yahoo’s 11th consecutive quarter of YoY growth in Search revenue ex-TAC.

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The total search revenues also increased by 4% YoY to $452 million for the quarter, from $435 million in Q3 2013.

Paid clicks (excluding Korea) was flat compared to Q3 2013 while the price-per-click (excluding Korea) increased by around 17% YoY.

Yahoo Q3 2014 Search

Other Highlights

Cashflow: As of September 30, 2014, Yahoo has $12 billion money in terms of cash, cash equivalents, and investments in marketable securities, as compared to $5 billion as of December 31, 2013. The company also noted that it will pay around $3.3 billion in cash taxes pertaining to the sale of Alibaba Group shares in Q1 2015.

Share repurchase: During Q3 2014, Yahoo repurchased around 8 million shares for $282 million at an average price of $36.76. The company mentions that it also entered into an accelerated share repurchase agreement with a financial institution to repurchase shares of its common stock last month.

As per the agreement, Yahoo initially prepaid $1.1 billion for 15 million shares as of September 30, 2014. The final settlement happened on October 17, 2014, wherein Yahoo repurchased a total 23.5 million shares for $933 million and the remaining $167 million was returned to the company.

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Yahoo CFO Ken Goldman mentions that they bought back around $1.6 billion of their stock in Q3 2014 and Q4 2014 (to date), of which $1.4 billion has been returned to shareholders.

DownloadPress Release | Financials | Slides

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