In what was perhaps its last time reporting earnings as a publicly traded company, Yahoo Inc.'s total revenue beat analysts' revenue estimates while slightly missing estimates on an earnings-per-share basis.
Revenue in the second quarter increased 5.2 percent to $1.31 billion—or 9 cents per share—up from $1.24 billion during the same period in 2015. Analysts had expected earnings to come in at $1.08 billion.
In a statement, Yahoo CEO Marissa Mayer said the company is "relentlessly focused on delivering shareholder value."
"With the lowest cost structure and headcount in a decade, we continue to make solid progress against our 2016 plan," she said. "Through disciplined expense management and focused execution, we delivered Q2 results that met guidance across the board and in some areas exceeded it. In addition to our efforts to improve the operating business, our board has made great progress on strategic alternatives."
The tech giant is weighing a number of potential bids for its ailing internet business. One of the most talked about potential buyers is Verizon, with other possible suitors including AT&T and the private equity firm TPG Capital.
Mobile revenue also increased to $378 million from $252 million during the same period last year, while total search revenue fell to $765 million from $927 million. (The Wall Street Journal pointed out it's the sixth decline over the last seven earnings periods.)
Mayer said Yahoo currently makes less money on mobile than desktop on a CPM basis. She said the company plans to "unlock" additional opportunities for mobile monetization during the latter half of 2016, with some of that coming from programmatic advertising.
Revenue for Yahoo's mobile, video, native and social—or "Mavens"—products increased to $504 million from $401 million during second-quarter 2015.
On an earnings call on Monday afternoon, Mayer said the Mavens represent a key role in the company's "turnaround story."
The number of paid clicks fell 24 percent, while search click-driven revenue fell 18 percent. Price-per-click rose 8 percent. Total ads sold also increased by nine percent even while the price per ad fell 15 percent.
On its first-quarter earnings call, Yahoo announced it planned to shutter legacy products in order to further streamline the business.