Yahoo! Inc. (NASDAQ:YHOO) stock found the red launch button and is cutting through the atmosphere already. The price a share was 5.55% up in pre-market, to $42.4, and it’s finally something that can be ascribed to Marissa Mayer’s struggles. The company’s mobile sector is bringing more than $200 million in revenues and Yahoo! Inc. (NASDAQ:YHOO) expects to see some $1.2 billion for the sector for the year as a whole, according to their financial statements. CNBC’s team salutes this improvement, but is not fully convinced that we’ve seen the game-changer yet.
“I think the message from last night, from Marissa Mayer, was ‘Leave me alone, I got this’. And she made a compelling case that mobile is doing better than some people expected. She finally put some hard numbers on it, it’s material. And that, frankly, display is worse,” informed Jon Fortt.
Yahoo! Inc. (NASDAQ:YHOO) has seen a tiny bump in overall revenues close to 1%, from $1,139 billion to $1,148. It’s something significant if you consider the fact that the Sunnyvale, California-based tech dwarf has lost about $23 million in revenues for display, compared to the third quarter last year. So, although it’s been a mess to try and understand what Yahoo! Inc. (NASDAQ:YHOO)’s doing with all the acquisitions, we can hope that the business will surprise us pleasantly soon enough.
“One of the things that Marissa has been great at, I think, is pragmatism. She got the activists off the board at the right time. She released these mobile metrics at the right time. I think, she and Ken Goldman knew they have to do buybacks at a certain rate so they compare ‘Hey, here’s the little bit we’ve spent on acquisitions, around a billion and a half. Here’s all we’ve spent on buybacks’,” said Jon Fortt.
Yahoo! Inc. (NASDAQ:YHOO) spent about $7.7 billion in buybacks and $6.3 billion of them came from the Chinese superstar Alibaba Group Holding Ltd (NYSE:BABA), qualifying the acquisitions and investments in other companies as pocket money. However, if the mobile starts kicking there’ll be a lot of activist investors biting their nails for not having enough patience.
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