Name: Yahoo! Inc. (NASDAQ:YHOO) | Income Statement (Quarterly)
Creator: Stock Analysis on Net

Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Download chart

Yahoo! Inc., consolidated income statement (quarterly data)

US$ in thousands

3 months ended:	Mar 31, 2017	Dec 31, 2016	Sep 30, 2016	Jun 30, 2016	Mar 31, 2016	Dec 31, 2015	Sep 30, 2015	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014	Jun 30, 2014	Mar 31, 2014	Dec 31, 2013	Sep 30, 2013	Jun 30, 2013	Mar 31, 2013	Dec 31, 2012	Sep 30, 2012	Jun 30, 2012	Mar 31, 2012
Revenue	1,327,270)	1,469,140)	1,305,206)	1,307,637)	1,087,152)	1,273,393)	1,225,673)	1,243,265)	1,225,970)	1,253,072)	1,148,140)	1,084,191)	1,132,730)	1,265,795)	1,138,973)	1,135,244)	1,140,368)	1,345,807)	1,201,732)	1,217,794)	1,221,233)
Traffic acquisition costs	(493,502)	(509,000)	(447,537)	(466,486)	(227,763)	(270,916)	(223,229)	(200,230)	(183,139)	(73,616)	(54,180)	(43,826)	(45,909)	(65,594)	(58,464)	(64,316)	(66,068)	(124,961)	(112,829)	(137,025)	(144,091)
Other	(256,774)	(261,617)	(255,421)	(268,483)	(282,587)	(316,193)	(302,846)	(295,932)	(285,263)	(261,971)	(266,820)	(271,148)	(280,844)	(273,906)	(271,763)	(271,262)	(278,007)	(287,146)	(282,081)	(278,453)	(253,980)
Cost of revenue	(750,276)	(770,617)	(702,958)	(734,969)	(510,350)	(587,109)	(526,075)	(496,162)	(468,402)	(335,587)	(321,000)	(314,974)	(326,753)	(339,500)	(330,227)	(335,578)	(344,075)	(412,107)	(394,910)	(415,478)	(398,071)
Gross profit	576,994)	698,523)	602,248)	572,668)	576,802)	686,284)	699,598)	747,103)	757,568)	917,485)	827,140)	769,217)	805,977)	926,295)	808,746)	799,666)	796,293)	933,700)	806,822)	802,316)	823,162)
Sales and marketing	(209,366)	(206,810)	(212,654)	(226,024)	(236,033)	(256,728)	(274,329)	(274,304)	(275,357)	(301,987)	(309,618)	(292,817)	(329,846)	(311,501)	(282,562)	(279,738)	(257,019)	(274,123)	(269,272)	(272,910)	(285,267)
Product development	(252,220)	(253,754)	(243,644)	(280,035)	(278,029)	(272,463)	(272,285)	(306,428)	(326,747)	(316,231)	(305,624)	(303,659)	(281,632)	(285,215)	(267,444)	(236,248)	(219,580)	(240,417)	(217,301)	(199,628)	(228,478)
General and administrative	(156,837)	(160,189)	(176,713)	(158,355)	(155,451)	(181,733)	(151,963)	(180,595)	(173,513)	(162,997)	(147,234)	(128,019)	(136,493)	(149,791)	(151,304)	(135,039)	(133,421)	(144,610)	(135,249)	(136,117)	(124,271)
Amortization of intangibles	(11,506)	(11,566)	(11,594)	(16,369)	(18,773)	(19,365)	(19,622)	(19,982)	(20,073)	(17,924)	(15,322)	(15,164)	(18,340)	(14,139)	(15,253)	(8,084)	(7,365)	(7,926)	(8,084)	(9,756)	(10,053)
Gain on sale of patents	—)	—)	—)	120,059)	1,500)	—)	—)	9,100)	2,000)	35,094)	1,300)	61,500)	—)	79,950)	—)	—)	—)	—)	—)	—)	—)
Asset impairment charge	—)	—)	—)	—)	—)	(2,682)	(41,699)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Goodwill impairment charge	—)	—)	—)	(394,901)	—)	(4,460,837)	—)	—)	—)	(88,414)	—)	—)	—)	(63,555)	—)	—)	—)	—)	—)	—)	—)
Intangible assets impairment charge	—)	—)	—)	(87,335)	—)	(15,423)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Restructuring (charges) reversals, net	(5,812)	(2,053)	(9,962)	(19,384)	(57,230)	(7,087)	(26,012)	(19,688)	(51,232)	(32,872)	(8,470)	(52,621)	(9,487)	(7,826)	576)	(3,578)	7,062)	(76,634)	(24,727)	(129,092)	(5,717)
Income (loss) from operations	(58,747)	64,151)	(52,319)	(489,676)	(167,214)	(4,530,034)	(86,312)	(44,794)	(87,354)	32,154)	42,172)	38,437)	30,179)	174,218)	92,759)	136,979)	185,970)	189,990)	152,189)	54,813)	169,376)
Other income (expense), net	18,822)	(15,440)	(6,122)	15,062)	(47,416)	(9,023)	(23,955)	(11,741)	(31,063)	87,550)	10,308,931)	(13,589)	(13,453)	(2,691)	5,370)	23,606)	17,072)	17,730)	4,607,656)	20,175)	2,278)
Income (loss) before income taxes and earnings in equity interests	(39,925)	48,711)	(58,441)	(474,614)	(214,630)	(4,539,057)	(110,267)	(56,535)	(118,417)	119,704)	10,351,103)	24,848)	16,726)	171,527)	98,129)	160,585)	203,042)	207,720)	4,759,845)	74,988)	171,654)
(Provision) benefit for income taxes	26,177)	1,492)	105,513)	(15,543)	34,766)	13,985)	93,208)	(58,495)	40,900)	(52,340)	(3,973,402)	(8,143)	(4,217)	(41,498)	(31,891)	(50,267)	(29,736)	(83,007)	(1,774,094)	(26,523)	(56,419)
Earnings in equity interests, net of tax	113,688)	113,704)	116,228)	51,777)	81,574)	92,845)	95,195)	95,841)	99,690)	101,917)	398,692)	255,852)	301,402)	221,641)	232,756)	224,690)	217,588)	148,939)	175,265)	179,991)	172,243)
Net income (loss)	99,940)	163,907)	163,300)	(438,380)	(98,290)	(4,432,227)	78,136)	(19,189)	22,173)	169,281)	6,776,393)	272,557)	313,911)	351,670)	298,994)	335,008)	390,894)	273,652)	3,161,016)	228,456)	287,478)
Net income attributable to noncontrolling interests	(506)	(1,909)	(474)	(1,533)	(942)	(2,760)	(1,875)	(2,365)	(975)	(2,937)	(2,291)	(2,850)	(2,333)	(3,480)	(2,338)	(3,858)	(609)	(1,385)	(778)	(1,825)	(1,135)
Net income (loss) attributable to Yahoo! Inc.	99,434)	161,998)	162,826)	(439,913)	(99,232)	(4,434,987)	76,261)	(21,554)	21,198)	166,344)	6,774,102)	269,707)	311,578)	348,190)	296,656)	331,150)	390,285)	272,267)	3,160,238)	226,631)	286,343)

Revenue remained relatively stagnant over the analyzed period, generally fluctuating between 1.1 billion and 1.4 billion US dollars per quarter. While revenue showed a slight peak in the fourth quarter of 2016, the overall trend indicates a lack of significant organic growth. In contrast, gross profit experienced a steady decline, falling from 823 million US dollars in March 2012 to 576 million US dollars by March 2017.

Cost of Revenue and Margin Compression: A significant increase in the cost of revenue is observed, primarily driven by a sharp rise in traffic acquisition costs. These costs grew from approximately 144 million US dollars in early 2012 to a peak of 509 million US dollars in December 2016. This trend indicates a growing reliance on paid traffic to maintain revenue levels, which directly eroded gross margins over the five-year period.
Operating Expense Trends: Sales and marketing expenses showed a general downward trend, decreasing from roughly 285 million US dollars in March 2012 to 209 million US dollars in March 2017. Product development costs remained relatively consistent, typically ranging between 240 million and 320 million US dollars per quarter. General and administrative expenses, however, trended upward, increasing from 124 million US dollars in 2012 to 156 million US dollars by 2017.
Operational Performance and Impairments: Income from operations shifted from consistent profitability in 2012 and 2013 to frequent losses starting in 2014. A critical inflection point occurred in December 2015, where an operating loss of 4.53 billion US dollars was recorded, almost entirely attributable to a massive goodwill impairment charge of 4.46 billion US dollars. Subsequent quarters continued to show operational instability, with fluctuating losses and occasional returns to modest profitability.
Net Income Volatility and Non-Operating Factors: Net income was characterized by extreme volatility due to non-recurring items. Significant spikes in net income were observed in September 2012 and September 2014, driven by substantial "Other income" entries of 4.6 billion and 10.3 billion US dollars, respectively. These non-operational gains masked the underlying deterioration of core business profitability. The earnings in equity interests provided a consistent positive contribution, often offsetting operational losses in several quarters.

The overall financial trajectory is marked by a decoupling of revenue and profitability. While the top line remained stable, the surge in traffic acquisition costs and the occurrence of massive asset impairments led to a degradation of the operational bottom line, making the company heavily dependent on non-operating income and equity interests to maintain positive net results.

AI Ask an analyst for more

My previous chats

Add tokens

Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.

How can I help you?

Yahoo! Inc. (NASDAQ:YHOO)

Income StatementQuarterly Data

Income Statement
Quarterly Data