Yahoo! Inc. (NASDAQ:YHOO) reported its earnings for the 2nd Quarter of Fiscal Year 2012 today, just one day after hiring Google Inc (NASDAQ:YHOO) executive Marissa Mayer as its new CEO. The company announced today that their revenue, excluding traffic acquisition costs was $10.8 billion for the 2nd Q this year. This figure is relatively the same as last year’s 2nd Q earnings. GAAP revenue was listed at nearly $12.2 billion, which is a 1% decrease from last year. Yahoo earned $0.24 a share in Q1 2012.
Non-Gaap income from operations totaling $190 million this quarter is once again very close to the $191 million reported last year. The report states that based on GAAP, operations income decreased 71% to $55 million in the second quarter, while last years report showed a resounding $191 million during the same time period for 2011.
Yahoo! Inc. (NASDAQ:YHOO) also states that their non-GAAP net earnings per diluted share were up 47% to $0.27 each. This figure exludes restructuring charges and deal related expenses of less than $1 million in the 2nd Q of last year and $136 million, plus the tax of $36 million, in the 2nd Q of 2012. On a GAAP basis, net earnings per diluted share totaled $0.18 each this quarter.
Tim Morse, Yahoo’s CFO was upbeat as he announced that the company showed “modest growth” for the quarter. He said Yahoo “moved aggressively with new strategic agreements with Alibaba.com Limited (HKG:1688) , Facebook Inc (NASDAQ:FB),..and CNBC, Clear Channel, and Spotify”.
All of this comes just 24 hours after Yahoo! Inc. (NASDAQ:YHOO) announced that it had hired a new CEO! Marissa Mayer, a 37 year old Google executive, who was instrumental in creating many of the icons Google Inc (NASDAQ:GOOG) is known for, was named for the top spot at Yahoo, late yesterday afternoon. You may remember back in May that former CEO Scott Thompson was forced to resign from Yahoo, after Dan Loeb exposed the fact that he did not possess the computer science degree he claimed to have.
Loeb is the founder of Third Point LLC., A New York based hedge fund managing over $8.8 billion in assets. He is also a member of Yahoo’s board and a leading voice of power with the other members. Loeb is attempting to build Yahoo’s financial value by increasing growth in subsidiary companies. Loeb is known as a highly successful business man and hedge fund manager, and his company owns more than 6% of Yahoo’s shares.
Mayer has made her intentions regarding the Microsoft Corporation (NASDAQ:MSFT) and Yahoo! Inc. (NASDAQ:YHOO) relationship issues clear. Sources say she is planning on re-evaluating the relationship and possibly closing the deal on Microsoft’s search engine, Bing. Sources also say that Yahoo may get closer to Google Inc (NASDAQ:GOOG) in relation to its online properties. Mayer may also try to lure even more talent from Google, which is already feeling the loss of one of its brightest employees.
Mayer holds 2 degrees from Stanford University, a B.S. In Symbolic Science, and a M.S. in Computer Science, while specializing in artificial intelligence for both degrees. She also holds an honorary doctorate from Illinois Institute of Technology. Her studies have paid off, as she has held positions for SRI International in Menlo Park, California, and also UBS in Zurich, Switzerland. She was named among Fortune’s 50 most powerful women in the world 4 years in a row, from 2008 through 2011. She is the youngest woman to ever be named for that position, having done so at only 33 years old.
Besides being a career woman, Marissa Mayer also has a personal side. She was married in 2009 to Zach Bogue, and announced yesterday, immediately after the press release publicly announcing her new post at Yahoo, that she and her husband will be having their first child sometime in October of this year.
Marissa Mayer is what many women want to be, educated, career minded, and devoted to her family, but does she have what it takes to run Yahoo in todays economy? She certainly has the skills and knowledge for the job, but I guess, we will all have to wait and see.