Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views

Last Hour:
Last 24 Hours:

Yahoo shares gain ground as it reassures on Verizon deal

Wednesday, October 19, 2016 6:41
% of readers think this story is Fact. Add your two cents.

Shares in Yahoo! Inc (NASDAQ:YHOO) gained ground in pre-market after the search engine titan beat forecasts in its third quarter and reassured that the deal with communications group Verizon was on track.

Verizon had agreed to buy pressured Yahoo for US$4.8bn but the deal has been thrown into confusion after a data breach in September, which saw millions of Yahoo users hacked.

Version said it could have a “material impact” on the plan to buy the company and could lead to a possible dissolution of the deal or renegotiation on price.

But Marissa Mayer, Yahoo chief executive, said in a statement that the firm was proceeding with preparations for the merger and that it was working hard to regain users trust.

The group posted earnings of US$162.8mln or 20 cents a share, which was six cents ahead of consensus. Last year earnings were US$76.3mln.

Shares in New York in Yahoo added 1.03% to US$42.11 in pre-market trading.

In contrast, shares in chip maker and data giant  Intel Corp (NASDAQ:INTC) dropped 4.66% in pre-market, after its third quarter numbers failed to impress and it gave lower  revenue guidance.

The group said it expects US$15.7bn in the fourth quarter – but consensus had analysts forecasting US$15.87bn.

Story by ProactiveInvestors


We encourage you to Share our Reports, Analyses, Breaking News and Videos. Simply Click your Favorite Social Media Button and Share.

Report abuse


Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories



Top Global

Top Alternative



Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.