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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Altaba Inc | NASDAQ:AABA | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 19.63 | 19.12 | 19.61 | 0 | 01:00:00 |
From May 2019 to May 2024
By Josh Beckerman
Yahoo Inc. has authorized an additional $2 billion for stock buybacks through March 2018.
The company said about $726 million remains available under a repurchase program announced in November 2013.
Buybacks have been on the wish list of activist shareholder Starboard Value LP, which earlier this month called for a "major overhaul" of the Internet company. In addition to cost-cutting and a spinoff of the company's stake in Yahoo Japan, Starboard said Yahoo should return $3.5 billion to $4 billion of excess cash to shareholders through repurchases.
In January, Yahoo said its fourth-quarter revenue from display ads, excluding traffic costs, dropped 5% to $464 million, the third straight quarterly decline.
While revenue from desktop display ads continues to shrink, Yahoo has attempted to offset those declines by investing in newer businesses like mobile, social, native ads and video. Yahoo said mobile revenue grew 23% to $254 million.
In after-hours trading, Yahoo shares were up 1.7% to $45.21.
Write to Josh Beckerman at josh.beckerman@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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