Yahoo Q4 mobile revenue up 23%
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GAAP search revenue was $1,793 million for the full year of 2014, a 3 percent increase compared to $1,742 million for the prior year.
GAAP display revenue was $532 million for the fourth quarter of 2014, a 4 percent decrease compared to $553 million for the fourth quarter of 2013. GAAP display revenue was $1,868 million for the full year of 2014, a 4 percent decrease compared to $1,950 million for the prior year.
Cash, cash equivalents, and marketable securities were $10 billion as of December 31, 2014 compared to $5 billion as of December 31, 2013, an increase of $5 billion.
I'm pleased to report that our performance in Q4 and in 2014 continues to show stability in our core business.
Marissa Mayer, CEO
During 2014, the company also entered into two accelerated share repurchase agreements that resulted in the repurchase of approximately 40 million shares for $1.7 billion. The accelerated share repurchase agreements were entered into pursuant to the company's existing share repurchase program.
"I'm pleased to report that our performance in Q4 and in 2014 continues to show stability in our core business," said Marissa Mayer, CEO of Yahoo.
"Our mobile strategy and focus has transformed Yahoo and yielded significant results. In Q4, we saw $254 million in mobile revenue, up 23% quarter-over-quarter. Across all of 2014, we saw gross mobile revenue of $1.26 billion and GAAP mobile revenue of $768 million.
"Our investment businesses - mobile, video, native, and social - collectively delivered more than $1.1 billion in GAAP revenue, up 95% year-over-year. These growth drivers have really focused our investments and energy on the future of digital advertising."
"We are proud of our accomplishments to date on capital allocation and the returns they have produced for our shareholders," said Ken Goldman, CFO of Yahoo.
"Since the beginning of Q2 2012, our significant buyback activity has seen us repurchase 354 million shares, totaling $9.7 billion to date and representing about a 29% gross reduction in our initial share base. At an average price of $27.44, this has been highly accretive for our shareholders.
"Following the planned tax-free spin-off of the remaining stake in Alibaba, which we also announced today, we will have returned a total of nearly $50 billion in value to our shareholders to date." ■