Yahoo released its third quarter earnings report after closing bell tonight, posting earnings of 15 cents per share and revenue of $1.23 billion. Analysts had been expecting earnings of 17 cents per share on revenue of $1.26 billion. In last year’s third quarter, the digital ad and search company reported earnings of 52 cents per share on $1.15 billion in revenue.
Yahoo’s TACs rise
GAAP earnings were 8 cents per share, compared to last year’s $6.70 per share. Traffic acquisition costs were $223 million, compared to last year’s $54 million. Adjusted EBITDA fell to $244 million from last year’s $306 million.