YHOO_I-1_IncomeStatement_GAAP

Document Sample
YHOO_I-1_IncomeStatement_GAAP Powered By Docstoc
					                                                                                                                                                     Yahoo! Inc.
                                                                                                                I-1) Condensed Consolidated Income Statement (GAAP)
                                                                                                                      (unaudited, in thousands, except per share amounts)

                                                                                                                                                             Quarterly Data                                                                                      Annual Data

                                                                                                  Q1'10              Q2'10              Q3'10             Q4'10              Q1'11              Q2'11              Q3'11           Q4'11            FY'09            FY'10            FY'11

Revenue                                                                                      $   1,596,960      $   1,601,379      $   1,601,203      $   1,525,109      $   1,214,357     $    1,229,024      $   1,216,665   $   1,324,153    $   6,460,315    $   6,324,651    $   4,984,199

Cost of Revenue                                                                                     706,383           682,722            680,754            557,686            377,462              371,155         359,276         394,757         2,871,746        2,627,545        1,502,650

Gross profit                                                                                        890,577           918,657            920,449            967,423            836,895              857,869         857,389         929,396         3,588,569        3,697,106        3,481,549

Operating expenses:
        Sales and marketing                                                                         313,538           331,468            320,977            298,508            262,234              280,312         290,486         289,270         1,245,350        1,264,491        1,122,302
        Product development                                                                         266,077           268,552            269,725            277,822            243,067              246,513         254,958         260,552         1,210,168        1,082,176        1,005,090
        General and administrative                                                                  110,428           125,333            126,816            125,755            123,224              131,330         128,977         112,273           580,352          488,332          495,804
        Amortization of intangibles                                                                   8,101             7,880              8,018              7,627              8,050                8,582           8,435           8,525            39,106           31,626           33,592
        Restructuring charges, net                                                                    4,412            10,052              5,758             37,735             10,575                  237          (2,721)         16,329           126,901           57,957           24,420
           Total operating expenses                                                                 702,556           743,285            731,294            747,447            647,150              666,974         680,135         686,949         3,201,877        2,924,582        2,681,208
                                 (1)
Income from operations                                                                              188,021           175,372            189,155            219,976            189,745              190,895         177,254         242,447          386,692          772,524          800,341
                                       (2)
Other income (expense), net                                                                          86,328             12,588           191,351                 7,602            5,027              (5,666)         18,046           9,768          187,528          297,869           27,175



Income before income taxes and earnings in equity interests                                         274,349           187,960            380,506            227,578            194,772              185,229         195,300         252,215          574,220         1,070,393         827,516

Provision for income taxes                                                                          (49,444)           (68,524)          (86,413)           (17,142)            (52,120)            (55,629)        (55,731)        (78,287)         (219,321)        (221,523)        (241,767)
Earnings in equity interests                                                                         87,374             96,707           104,166            107,511              82,180             108,902         158,775         127,063           250,390          395,758          476,920
Net income                                                                                   $      312,279     $     216,143      $     398,259      $     317,947      $     224,832     $        238,502    $    298,344    $    300,991     $    605,289     $   1,244,628    $   1,062,669
   Less: Net income attributable to noncontrolling
     interests                                                                               $        (2,088) $         (2,822) $          (2,128) $          (5,927) $          (1,840) $           (1,530) $        (5,053) $       (5,419)   $      (7,297) $       (12,965) $       (13,842)

                                                  (3)
Net income attributable to Yahoo! Inc.                                                       $      310,191     $     213,321      $     396,131      $     312,020      $     222,992     $        236,972    $    293,291    $    295,572     $    597,992     $   1,231,663    $   1,048,827


Net income attributable to Yahoo! Inc. common stockholders per
share - basic                                                                                $          0.22    $          0.15    $          0.30    $           0.24   $         0.17    $           0.18    $        0.23   $        0.24    $        0.43    $        0.91    $        0.82


Net income attributable to Yahoo! Inc. common stockholders per
share - diluted                                                                              $          0.22    $          0.15    $          0.29    $           0.24   $         0.17    $           0.18    $        0.23   $        0.24    $        0.42    $        0.90    $        0.82




Basic shares                                                                                     1,398,308          1,378,374          1,333,753          1,306,036          1,309,064          1,299,947          1,253,044       1,234,904        1,397,652        1,354,118        1,274,240
Diluted shares                                                                                   1,413,432          1,390,240          1,343,094          1,311,682          1,320,185          1,308,359          1,259,576       1,241,009        1,415,658        1,364,612        1,282,282

             Stock-based compensation expense by function:
              Cost of revenue                                                                $        1,011     $          580     $          698     $          986     $         648     $            875    $        956    $      1,010     $     10,759     $      3,275     $      3,489
              Sales and marketing                                                            $       13,678     $       21,540     $       19,066     $       16,870     $       6,697     $         19,373    $     16,759    $     22,291     $    141,537     $     71,154     $     65,120
              Product development                                                            $       32,373     $       26,132     $       22,647     $       25,513     $      17,672     $         25,531    $     21,093    $     25,291     $    205,971     $    106,665     $     89,587
              General and administrative                                                     $       13,721     $        9,345     $        8,686     $       10,632     $      10,099     $         13,269    $     12,139    $     10,255     $     79,820     $     42,384     $     45,762
              Restructuring expense (reversals) acceleration, net                            $            -     $            -     $            -     $       (4,211)    $        (752)    $           (526)   $          -    $      1,492     $     11,062     $     (4,211)    $        214



(1)
      Income from operations for each period may include certain items that the Company does not consider indicative of its ongoing operating results, see Non-GAAP Income from operations in Item I-4.

(2)
   FY'09 includes a $67 million pretax gain on the sale of the Company's investment in Gmarket and a $98 million pretax gain on the sale of the Company's direct investment in Alibaba.com. Q1'10
includes a $66 million pretax gain on the sale of Zimbra, Inc. Q3'10 includes a $186 million pretax gain on the sale of HotJobs.


(3)
      Net income attributable to Yahoo! Inc. for each period may include certain items that the Company does not consider indicative of its ongoing results, see Non-GAAP Net income in Item I-4.




                                                                                                                                                             1

				
DOCUMENT INFO
Shared By:
Categories:
Tags:
Stats:
views:3
posted:2/27/2012
language:
pages:1