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Yahoo reported its fourth quarter earnings to date, where\u00a0as usual the financial metrics don\u2019t really matter because the company is in the process of getting acquired by Verizon.<\/p>\n
There is, however, a very interesting footnote: the acquisition, expected to close in the first quarter, is getting pushed back to the second quarter this year. The company offered basically no explanation for the delay other than it was working on it. Here\u2019s the full statement:<\/p>\n
\nYahoo has continued to work with Verizon on integration planning for the sale of its core business. In terms of timing, Yahoo had previously stated that it expected to close the transaction in Q1. However, given work required to meet closing conditions, the transaction is now expected to close in Q2 of 2017. The company is working expeditiously to close the transaction as soon as practicable in Q2.<\/p>\n<\/blockquote>\n
So, let\u2019s read between the lines here! The Yahoo acquisition was already a rolling mess with it dealing with a pair of major hacks that it didn\u2019t disclose after they happened. In December it said that a breach of more than 1 billion accounts happened in August 2013<\/a>, which was\u00a0separate<\/em> from a major hack that affected more than 500 million users.<\/a>\u00a0That doesn\u2019t look all that great for Yahoo, which is in the process of being acquired by Verizon for $4.8 billion. (Verizon owns Aol, which owns TechCrunch. Internet eats self.)<\/p>\nNext up: the SEC is reportedly investigating why Yahoo took so long to report the hacks<\/a>. While Yahoo naturally didn\u2019t comment in the press release on its earnings (which, again, the financials are largely moot), it again rings a couple alarm bells that this report came out and the acquisition close date was pushed back while they are working on it and all that. Amid all of this, reports also came out that Verizon is looking for a discount on the deal<\/a>.<\/p>\n
So let\u2019s just say the acquisition process has not gone very well at all and it looks like it may be more of a mess than it even seems from face value. Granted, acquisition processes are long, arduous and very complicated \u2014 and an acquisition at the scale of Yahoo, which is quite an undertaking, could easily be delayed for separate reasons. But the timing is quite impeccable, and we\u2019ll have to see if we get any more information about it sometime soon.<\/p>\n
Unfortunately, its quarterly earnings this time would have been a good time for Yahoo \u2014 it\u2019s one of the rare occasions we actually get to see what\u2019s going on in the guts of the company. But it looks like everything is going to remain in the works behind the scenes.<\/p>\n
Anyways, here are the financial parts: stock goes nowhere, beat on earnings per share (25 cents compared to an estimated 21 cents), beat on revenue ($1.47 billion compared to an estimated $1.38 billion). For historical reference, here\u2019s the stock price just as a reminder of what has happened to Yahoo in the past few years:<\/p>\n
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Featured Image: Justin Sullivan\/Getty Images<\/small><\/p>\n
Article source: http:\/\/feedproxy.google.com\/~r\/techcrunch\/social\/~3\/48EM3SEdP7w\/<\/p>","protected":false},"excerpt":{"rendered":"
Yahoo reported its fourth quarter earnings to date, where\u00a0as usual the financial metrics don\u2019t really matter because the company is in the process of getting acquired by Verizon. There is, <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[3],"tags":[10,7,14,15,6,12,11],"class_list":["post-3032","post","type-post","status-publish","format-standard","hentry","category-latest-update","tag-computer-news","tag-downloads","tag-microsoft-download-news","tag-networking-updates","tag-technology-update","tag-wordpress-plugin-download","tag-wordpress-theme-download"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t