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Source: The Wall Street Journal  | CFO Journal: July 16, 2013 article

THE WALL STREET JOURNAL.


CFO Journal.


July 16, 2013, 6:16 PM ET

Yahoo Goes Glam on Video Earnings Conference Call


 

[Emily Chasan]

Emily Chasan

Senior Editor

The surprise in Yahoo Inc.’s second-quarter earnings may have been the company’s live video conference and real-time tweets.

Breaking the staid tradition of executives huddled around a speakerphone, Yahoo Chief Executive Marissa Mayer and Chief Financial Officer Ken Goldman explained their quarterly results from a studio with wood paneling and exposed brick, soft lighting and a large flat-screen monitor behind them.

“It’s actually a lot of fun to be experimenting with a new format and we hope you’ll think it’s an improvement,” Mr. Goldman said.

He had some reasons to smile at the camera. Yahoo’s second-quarter profits jumped 46% to $331.2 million, or 30 cents a share, as the company’s cost cutting paid off. Revenue, however, was down 0.9%.

Yahoo

Yahoo CEO Marissa Mayer and CFO Ken Goldman on the company’s live video conference call.

 

The new format means analysts may have to become experts in facial cues. When Barclays Analyst Anthony DiClemente asked how the company could monetize its stake in Alibaba in a tax-efficient manner, Mr. Goldman demurred.

Mr. DiClemente joked, “Okay, well now we can try and read the expression on your face on the video stream so we’ll try and do that.”

Ms. Mayer posted photos of herself getting ready for the earnings video on Tumblr, which the company purchased in May.

Yahoo also live-tweeted its own earnings call to more than 22,000 followers, as executives discussed its $5 billion share buyback authorization and monthly mobile users.

Yahoo’s tweets even included a safe harbor:  “Our forward-looking tweets are subject to risks & uncertainties. Actual $YHOO results could differ materially.”

The new formats come just months after the Securities and Exchange Commission relaxed its stance on using social media – opening the door for companies to experiment with new communications technologies.

Netflix Inc. is also set to live-stream a live video earnings call next week, moderated by CNBC media reporter Julia Boorstin and BTIG LLC analyst Rich Greenfield. Investors can submit questions via e-mail and Twitter.

Write to Emily Chasan at emily.chasan@wsj.com

Copyright ©2013 Dow Jones & Company, Inc. All Rights Reserved

 

 

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