Dallas, Texas 10/15/2013 (Financialstrend) – Yahoo! Inc. (NASDAQ:YHOO) shares have gained 15.1% over the past 30 days. When trading started on October 14, the share price of Yahoo was hovering around $34.03 per share. It had shed close to 0.36% of its value from its previous close.
This dip in valuation comes post Yahoo’s announcement on October 11, of acquiring tech start up company “Bread”. As per the notice put out on Bread Inc website, Yahoo will be shutting down the website post a 30 day cool of period. The workforce currently working for Bread will join the Yahoo marketing team. Yahoo has been on a acquisition binge over the past year and a half in an attempt to beef up its services offerings which will allow it to offer extend services over the social media medium. Last week’s acquisition of Bread and previous acquisition of micro blogging site Tublr has to be seen in this light.
In spite of adding new products and creating new lines of revenues for itself, analysts are expecting Yahoo’s 3Q results to be soft. Market watchers are of the opinion that 3Q sales might manage to match year on year sales from last year. This is in spite of Yahoo’s push to attract more number of active users. Analysts are also predicting a slight dip in overall revenue and earnings per share in the quarter which ended on September 30. Yahoo had previously announced that its CEO Marissa Mayer will be releasing their 3Q operation results on October 15 after market close.
Yahoo has a market cap of $36.8 million with an annual income of $4.15 billion over the past twelve months trailing period. The internet search and content provider had managed to post sales of $4.82 billion in the same period. Investors of the stock would be keeping their fingers crossed that the 3Q results would help the stock regain value.