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Yahoo nixes earnings call as Verizon awaits

The internet giant is keeping mum, following weeks of bad press, as it looks to close its deal with Verizon.


Yahoo is canceling its quarterly earnings call.

Justin Sullivan, Getty Images

Usually, after Yahoo announces its quarterly earnings, CEO Marissa Mayer and financial chief Ken Goldman sit behind a desk on a fancy news set and discuss the quarter during a live stream.

But not this time.

The internet giant, which has been embroiled in recent controversies as it heads toward a planned $4.83 billion acquisition by Verizon, said on Friday that it will ditch the customary conference call with analysts after it announces its financial results on Tuesday. It's an odd move because those calls are standard for a public company.

That means investors and press looking for some answers from Yahoo's brass will have to wait.

Yahoo said in a statement that the scrapped call is "due to the pending transaction with Verizon." Pressed further, a Yahoo spokeswoman said, "This in line with what other companies have done in similar positions as they await close of a transaction."

It's been a rocky few weeks for Yahoo. Earlier this month, news reports said the US government had Yahoo surveil user emails for intelligence information. And last month, Yahoo disclosed hackers swiped personal information associated with at least a half billion Yahoo accounts, marking what could be the biggest data breach in history.

Since then, Verizon, which agreed to buy Yahoo in July, has reportedly asked for a $1 billion discount off the sales price. And earlier this week, Verizon General Counsel Craig Silliman reportedly said the wireless company is leaning toward considering the hacked accounts a "material" event. In investor-speak, that means it could have harmed Yahoo's financial value and made it less attractive as an acquisition. That suggests Verizon could try to renegotiate the deal or possibly back out completely.