Yahoo reported third-quarter earnings of $0.15 per share on revenue of $1.23 billion. Analysts expected $1.26 billion in quarterly revenue and earnings of $0.17.

Though Yahoo missed expectations across the board, its mobile, video, native, social (dubbed “MaVeNS”) business picked up steam this quarter, generating $422 million for the quarter, a year-over-year growth of 43 percent. Last quarter, the MaVeNS business generated $399 million in revenue.

Social was a big focus this quarter. Over the summer the company released a silent messaging app called LiveText that lets users live-stream while they text and acquired social shopping app Polyvore. Shortly thereafter, Yahoo (finally) integrated Tumblr into its Flurry developer API, so developers can build a share-to-Tumblr button in native apps.

Yahoo’s non-MaVeNS revenue shrank from $727 million in Q3 last year to $693 million this quarter. Display advertising brought in $509 million this quarter, but the fees for traffic doubled. Search revenue was also seemingly up, but with traffic acquisition costs factored in, the company didn’t actually show much year-over-year growth.

Yahoo also said it’s working on cutting expenses.

“This quarter we’ve reduced spending in areas such as workforce, facilities and discretionary expenses, and in our ongoing efforts to control expenses, we’ll continue to focus our headcount on growth initiatives,” said CFO Ken Goldman in the statement.

After the earnings announcement, Yahoo’s stock is relatively flat in after-hours trading, a change from its overall trend downward. That is more likely to do with a new search deal with Google.

Yahoo’s stock price had been on the decline for just shy of a year. In October the trend began reversing in anticipation of Yahoo’s Alibaba shares spinning off in Q4 into the imaginatively named SpinCo. Investors have been concerned that regulators would challenge SpinCo’s tax-free status.

CEO Marissa Mayer says that Yahoo’s legal team is confident that the Abaco transaction would be “tax efficient under current law,” but the Internal Revenue Service could rule otherwise after the spin-off.

Investors may still be concerned over the well-documented “exodus” of Yahoo executives, including chief development officer Jacqueline Reses and marketing partnerships senior vice president Lisa Licht.

In its guidance for Q4, Yahoo said it expected revenues of $1.16 billion to $1.2 billion with costs of revenue hitting $240 million. Goldman also mentioned there would be headwinds of $60 million heading from Q3 to Q4. Yahoo

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