Yahoo quarterly profits fall 26% amid shrinking revenue

There is growing frustration at Yahoo about failure to turn the company around

Yahoo has seen its quarterly profits fall 26% as it struggled to boost earnings from online advertising.

Net profits in the third quarter were $296m (£188m) compared with $396m during the same period last year.

Last month, Yahoo sacked chief executive Carol Bartz after its online earnings failed to keep pace with those of rivals Google and Facebook.

However, its performance beat market expectations, and its shares ended 3% higher.

Yahoo’s net revenue in the three months to September was $1.07bn, compared with $1.12bn the year before.

Takeover talk

“My focus, and that of the whole company, is to move the business forward with new technology, partnerships, products and premium personalised content,” said interim chief executive Tim Morse.

Yahoo has been looking for a new chief executive since firing Ms Bartz in September amid mounting frustration at failed efforts to turn the firm around.

Analysts say that in recent weeks there has been increasing speculation that Yahoo, or parts of its business, might be sold to an assortment of buyout firms.

There have been rumours that Microsoft is considering a second attempt at a takeover. Microsoft last offered to buy Yahoo for $47bn in 2008.

China’s internet firm Alibaba has already said it might be interested in buying Yahoo.

Advertisements

2 Responses to Yahoo quarterly profits fall 262 amid shrinking revenue

  1. Do you mind if I quote a few of your posts as long as I provide credit and sources back to your website? My blog site is in the very same niche as yours and my users would definitely benefit from a lot of the information you provide here. Please let me know if this ok with you. Many thanks!

  2. Along with almost everything which appears to be building inside this specific area, all your opinions are generally very exciting. On the other hand, I beg your pardon, because I can not subscribe to your whole idea, all be it exhilarating none the less. It seems to me that your remarks are actually not entirely validated and in reality you are generally yourself not totally confident of your point. In any case I did take pleasure in reading it.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: