Yahoo on Jan. 27 released its Q4 2014 results. The company posted earnings of 30 cents per share on $1.17 billion in revenue. Analysts were expecting earnings of 29 cents per share and $1.19 billion in revenue.
Yahoo also said Jan. 27 that it would spin off its remaining Alibaba stake, worth about $39 billion, into a separate unit. The spinoff helps Yahoo avoid paying taxes on the remaining stake. The company's stock jumped more than 7% in after-hours trading once the spinoff was announced.
Yahoo is closing down its Beijing research and development office, the company said March 18. The company has not offered products in mainland China since 2013. Multiple reports said around 200-300 employees will be affected, although Yahoo has not confirmed a number.
Yahoo sold 140 million shares of Alibaba when the Chinese company went public in September 2014. (Yahoo invested $1 billion in Alibaba in 2005.) The sale earned the company about $9.4 billion in pre-tax income, but was then subject to about $3 billion in taxes.
Yahoo earned $254 million in mobile revenue in Q4 2014, up from $200 million in Q3 2014. Yahoo said on Oct. 21, 2014, that the $200 million in mobile revenue it generated that quarter was the first time mobile revenue was material for the company.
Activist investor group Starboard urged Yahoo in a September 2014 letter to explore a possible merger with AOL, believing the two companies could deliver more shareholder value by combining and then cutting costs than they can on their own.
Starboard Delivers Letter to CEO and Board of Directors of Yahoo! Inc. - MarketWatch
Yahoo on March 12 agreed to an expanded content partnership with Disney that will see the site's editors appear on a "Good Morning America" segment called "Yahoo Your Day." Images from Flickr will also be incorporated into "GMA" weather segments as part of the deal. Yahoo began featuring ABC News on its homepage in 2011.
Yahoo and Disney/ABC Television Group Announce Expanded Relationship
Yahoo on March 26 announced a $2 billion share buyback program, which will expire in March 2018. This buyback program is in addition to a previous $5 billion buyback program that was announced in Nov. 2013.