Yahoo is focusing on its pending buyout by Verizon, which is being complicated by a massive security breach disclosed last month. In sharing its third-quarter earnings results today, Yahoo chief executive officer Marissa Mayer avoided the usual video conference call in favor of a news release.
Net earnings expanded to $163 million, from $76 million, as sales rose 6.4 percent to $1.31 billion for the quarter ended Sept. 30.
Revenue from Yahoo’s mobile, video, native and social business rose, but the number of paid clicks declined by 22 percent and the number of display ads sold decreased by 5 percent.
Mayer did not directly discuss a recently revealed data breach that was said to hack into the accounts of 500 million users and which was not disclosed to Verizon before it agreed to purchase Yahoo for $4.8 billion in July. However, she did say that “we take deep responsibility in protecting our users and the security of their information. We’re working hard to retain their trust and are heartened by their continued loyalty as seen in our user engagement trends.”
She also seemed to lobby for loyalty from Yahoo’s employees. Mayer said Yahoo’s “solid financial performance across the board” was a testimony to the “tremendous teamwork, focus and resilience of our employees.”
The release highlighted a number of recent updates, many of them continuing to focus on the push for video: Yahoo added the ability for users to stream baseball games from its sports app, introduced Yahoo View, which is billed as a “TV-watching experience” in partnership with Hulu, in addition to other live-streamed events.
Mayer said Yahoo was also “busy preparing for integration with Verizon. We remain very confident, not only in the value of our business, but also in the value Yahoo products bring to our users’ lives.”
It is still unknown to what extent the breach could affect the value of Yahoo, and the Verizon deal, but Verizon general counsel Craig Silliman recently said Verizon has “reasonable basis” to consider the breach to be “material.”