On Tuesday, Yahoo! Inc.(NASDAQ:YHOO)’s shares declined -0.37% to $44.49.
Yesterday, Yahoo! Inc (YHOO), stated results for the quarter ended March 31, 2015.
“Yahoo is amidst a multi-year transformation to return an iconic company to greatness. This quarter, we saw encouraging revenue growth of 8%, with display revenue growing a modest 2% and search growing 20% on a GAAP basis. Our mobile GAAP revenue reached $234 million in Q1, growing 61% year-over-year,” said Marissa Mayer, CEO of Yahoo. “We anticipated that we would grow GAAP revenue ahead of revenue ex-TAC and EBITDA, and that’s precisely what we saw this quarter. For the next phase of the transformation, we will focus on accelerating our GAAP revenue growth while managing our margins and costs.”
Business Highlights
GAAP Revenue Growth:
Yahoo’s GAAP revenue grew this quarter, primarily as a result of the Company’s performance in search and display. GAAP Revenue was $1,226 million, up 8% and near the midpoint of our guidance after adjusting for Mozilla TAC. This is the first time the Company has seen Q1 growth in display since 2011.
Search Volume Up in Q1 2015, Mozilla Partnership Paying Off:
Yahoo saw a raise in search volume in Q1 2015, with searches reaching a five-year high. The partnership between Yahoo and Mozilla was key to this volume raise.
Amended Search Partnership with Microsoft:
Yahoo declared an amended search partnership with Microsoft to improve the search experience, create value for advertisers and establish ongoing stability for partners. Yahoo now has raised flexibility to enhance the search experience on any platform, since the partnership is non-exclusive for both desktop and mobile. Yahoo will continue to serve Bing ads and search results for at least 51% of its desktop search traffic.
Developer Tools:
At Yahoo’s first Yahoo Mobile Developer Conference, the Company launched the Yahoo Mobile Developer Suite, which empowers developers through Flurry technology to measure, advertise, monetize and enhance their apps. The Yahoo Mobile Developer Suite comprises Flurry Analytics with Explorer, Yahoo App Publishing, Yahoo App Marketing, Yahoo Search in Apps, and Flurry Pulse.
New Features on Yahoo Mail:
Yahoo Mail introduced updates counting contact cards (contact information counting photo, phone number, job title, and links to social profiles), on-demand passwords (eliminating the need for users to remember complex passwords), an end-to-end encryption extension, and refined search options.
Yahoo App introduced new interactive features encompassing Yahoo digital magazines, Yahoo Weather and Yahoo News Digest.
Media Partnerships & Digital Magazines:
The Company launched three new digital magazines this quarter: Yahoo Politics, Yahoo TV, and Yahoo Autos.
Yahoo was chosen by Snapchat as a launch partner to bring the day’s most important headlines from Yahoo News directly to Snapchatters through a new editorial feature of the popular app: Snapchat Discover.
Yahoo declared an expansion of its relationship with Disney/ABC Television Group, counting a new “Yahoo Your Day” series on Good Morning America.
Advertising Partnerships:
Yahoo landed high-profile video, display, native and social ad deals with brands like Old Navy, Honda and the City of Las Vegas on Yahoo Properties counting Tumblr and Tourney Pick‘Em, as well as the Yahoo Screen series Community.
Ad Technology:
Yahoo leveraged its recent acquisition of BrightRoll by integrating Audience Ads data into BrightRoll’s video demand side platform, giving video advertisers access to exclusive Yahoo audience data. BrightRoll also launched an advanced campaign insights and reporting tool for video advertisers.
Yahoo! Inc. provides search and display advertising services on Yahoo properties and associate sites worldwide. The company offers Yahoo Search that serves as a starting point to navigate the Internet and discover information; and Yahoo Answers, which enables users to seek, discover, and share knowledge and opinions across mobile phones, tablets, and desktops. It also provides Yahoo Mail that connects users to the people and things; Yahoo Messenger, an instant messaging service; and Yahoo Groups, which allows users to join groups based on shared interests and involvements.
McDermott International (NYSE:MDR)’s shares dropped -4.68% to $4.89, during the last trading session on Tuesday.
On April 7, McDermott International (MDR), declared that the consortium between McDermott and a consortium partner has been awarded the SURF engineering, product supply and installation scope for the Atlanta Early Production System (EPS) in the Santos Basin offshore Brazil by Brazilian exploration and production company Queiroz Galvão Exploração e Produção S.A. (QGEP).
McDermott engineering and installation revenue from the large, green field project will be comprised of in backlog for the first quarter of 2015. The project is predictable to be accomplished by the end of the second quarter of 2016.
The Atlanta EPS is phase 1 of the Atlanta field development, located in 5,085 feet of water in Brazil Block BS-4 of the Santos Basin southeast of Rio de Janeiro. QGEP recently declared that it anticipates to produce its first oil from the offshore Atlanta field in the first half of 2016.
“This joint award reflects the confidence that Queiroz Galvão Exploração e Produção has in McDermott and its consortium partner to deliver its scope of work on time and with the highest standards of quality and safety,” said David Dickson, McDermott’s President and Chief Executive Officer.
McDermott International, Inc. operates as an engineering, procurement, construction, and installation company worldwide. The company operates through three segments: Asia Pacific, Americas, and the Middle East. It focuses on designing and executing offshore oil and gas projects. The company delivers fixed and floating production facilities, pipeline installations, and subsea systems from concept to commissioning.
At the end of Tuesday’s trade, Molycorp Inc (NYSE:MCP)’s shares dipped -4.60% to $0.792.
On April 15, Siemens AG has selected Molycorp, Inc. (MCP) to supply rare earth materials over the next 10 years from its Mountain Pass, California facility for incorporation into Siemens’ high-efficiency, direct drive wind turbine generators. Molycorp will supply rare earth materials to Shin-Etsu Chemical Co., Ltd. (“Shin-Etsu”), which will produce the rare earth magnets Siemens intends to utilize in its wind turbines.
Siemens officials noted that key factors in choosing Molycorp were Molycorp’s ability to provide greater global diversification and reliability to its supply chain, in addition to the environmental and process innovations Molycorp has built into its Mountain Pass rare earth facility. Among those innovations are the facility’s ability to recycle water, regenerate the chemical reagents needed in rare earth production, generate power from a high-efficiency natural gas cogeneration power plant, and dispose of mine tailings through an innovative paste tailings system.
“The contract with Shin-Etsu and Molycorp is an important step for us in sourcing magnet materials for our direct drive wind turbines,” said Morten Rasmussen, Head of Technology at Siemens Wind Power and Renewables Division. “We strive for diversification in the sourcing of these components to improve independency from specific markets.”
Molycorp, Inc. produces and sells rare earths and rare metal materials in the United States and internationally. The company’s Resources segment extracts rare earth minerals, counting light rare earth concentrates; rare earth oxides (REO), such as lanthanum, cerium, and neodymium-praseodymium; heavy rare earth concentrates, which comprise samarium, europium, gadolinium, terbium, dysprosium, and others; and SorbX and PhosFIX, a line of rare earth-based water treatment products.
Under Armour Inc (NYSE:UA), ended its Tuesday’s trading session with -4.83% loss, and closed at $83.52.
Yesterday, Under Armour Inc (UA), declared financial results for the first quarter ended March 31, 2015. Net revenues raised 25% in the first quarter of 2015 to $805 million contrast with net revenues of $642 million in the preceding year’s period. On a currency neutral basis, net revenues raised 27% contrast with the preceding year’s period. Net income reduced 13% in the first quarter of 2015 to $12 million contrast with $14 million in the preceding year’s period, inclusive of costs related to the formerly declared acquisitions of Endomondo and MyFitnessPal during the first quarter. Diluted earnings per share for the first quarter of 2015 were $0.05 contrast with $0.06 per share in the preceding year’s period.
First quarter apparel net revenues raised 21% to $555 million contrast with $459 million in the same period of the preceding year, driven primarily by new product introductions in baselayer and training. First quarter footwear net revenues raised 41% to $161 million from $114 million in the preceding year’s period, highlighted by expanded SpeedForm running offerings in addition to the introduction of the Curry One basketball shoe. First quarter accessories net revenues raised 23% to $63 million from $52 million in the preceding year’s period. Direct-to-Consumer net revenues, which represented 25% of total net revenues for the first quarter, grew 21% year-over-year. International net revenues, which represented 12% of total net revenues for the first quarter, grew 74% year-over-year.
Gross margin for the first quarter of 2015 was unchanged at 46.9%, primarily reflecting favorable product margins in apparel and footwear offset by the influences of higher air freight and foreign exchange rates. Selling, general and administrative expenses as a percentage of net revenues were 43.5% in the first quarter of 2015 contrast with 42.7% in the preceding year’s period, primarily reflecting costs associated with the two acquisitions, counting $6.3 million of one-time deal-related costs. First quarter operating income raised 3% to $28 million contrast with $27 million in the preceding year’s period.
Under Armour, Inc., together with its auxiliaries, develops, markets, and distributes branded performance apparel, footwear, and accessories for men, women, and youth primarily in North America, Europe, the Middle East, Africa, the Asia-Pacific, and Latin America. The company offers its apparel in compression, fitted, and loose types to be worn in hot, cold, and in between the extremes. It offers various footwear products, counting football, baseball, lacrosse, softball and soccer cleats, slides, performance training, running, basketball, and outdoor footwear.
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