Yahoo pushes back expected closure of Verizon takeover deal

Verizon Communications' $4.8bn deal to acquire Yahoo's core internet business has been stalled, with the latter announcing the delay of the deal's closure during the release of its quarterly earnings.

Verizon are reportedly considering an alteration of the offer for Yahoo after details of two massive data breaches were released during 2016.

The acquisition was expected to be closed during the first quarter of 2017, but Yahoo confirmed on Monday that due to "work required to meet closing conditions"

In September Yahoo disclosed a theft of the personal data of over 500m users, including names, passwords and telephone numbers. Then in December another data breach affected more than one billion accounts.

The company's financial performance for the final quarter of 2016 was better than expected however, beating on its earnings per share and revenue.

Yahoo posted adjusted EPS for Q4 of 25 cents, with revenue of $1.47bn, after analysts had forecast 21 cents per share on revenue of $1.38bn.

The internet firm's share price was more than 1% higher in afterhours trading following the release of its earnings.

Chief executive Marissa Mayer, who is to step down from the board after the takeover deal is completed, did not explicitly mention the Verizon deal, but said Yahoo would continue to place emphasis on security.

"In addition to integration planning, our top priority continues to be enhancing security for our users," Mayer said. "With security protocols and password changes in place, approximately 90% of our daily active users have already taken or do not need to take remedial action to protect their accounts."

"I'm very pleased with our Q4 results and incredibly proud of the team's execution on our 2016 strategic plan, particularly given the uniquely eventful past year for Yahoo," she added.