Yahoo reported quarterly earnings that beat analysts' expectations, though revenue was light.
Shares rose in after-hours trading on Tuesday. Click here to see the latest quote.
The earnings announcement comes less than twenty-four hours after Yahoo named Marissa Mayer, former Google executive, its new CEO.
On day one, Mayer is not leading Tuesday's earnings conference call, but as chief will soon be held responsible for balance sheet performance.
The Internet company (YHOO) delivered second-quarter earnings excluding items of 27 cents per share, up from 18 cents a share in the year-earlier period.
Net revenue, which excludes fees paid to partner websites, came in at $1.08 billion, compared to $1.076 billion at this time last year. In addition to reporting light revenue, during the second quarter of 2012, Yahoo! repurchased 30 million shares for $456 million.
Analysts had expected the company to report earnings excluding items of 23 cents per share on revenue of $1.1 billion, according to Thomson Reuters.
Investors are now wondering whether earnings performance can improve on Marissa Mayer's watch.
Mayer's plans remain ambiguous, though she did tell the Financial Times on Monday that she will include "innovating in some of the verticals like finance, sports, video and messenger," while also "being relevant to consumers in their everyday lives - email, search, the homepage and now mobile."
Consensus on the Street says Mayer has a very limited window of time in which to prove herself. Yahoo has ushered in - and booted out - five CEOs in the last five years, and skepticism for the new chief executive is fairly high.
Analysts say, for starters, Yahoo's problems include a stagnant stock price, leadership challenges and an identity crisis.
Mayer's first months at Yahoo will also include the birth of her first child - a fact of which Yahoo's board is fully aware.
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