Feeds

Yahoo! profits! derailed! by! restructuring! costs!

New CEO silent on her plans as payouts hit Q2 income

Top three mobile application threats

A hefty restructuring bill has pushed troubled web firm Yahoo!'s second quarter profit down 4 per cent.

The firm announced its results just a day after appointing its latest CEO, ex-Googler Marissa Mayer, the third chief to take the reins in little over a year.

Yahoo! said profit eased down to $226.5m in Q2, slipping from $236.9m a year ago, while revenue was more or less the same. After deducting commissions to affiliates that brought visitors to Yahoo!'s websites, the web firm's net revenue for the period was $1.08bn, matching up to $1.07bn last year. However, restructuring costs of $129m – mainly payouts to axed staff – weighed down the quarter's profits.

Last summer, then-CEO Scott Thompson, who had only been in the saddle for five months after taking over from ousted chief Carol Bartz, had to quit his post after an embarrassing issue with some (possibly unintentional) porky-pies in his CV.

That put Ross Levinsohn in the chair as interim CEO while Yahoo! tried to decide what to do next, and it was rumoured he might stay. However, the firm surprised everyone by appointing Google darling Mayer to the post instead.

The web biz's attempts to revive its flagging fortunes were highlighted in the results announcement: they included Alibaba's partial repurchase of Yahoo!'s stake in it and the quick tidy-up of its pending patent battle with Facebook.

Yahoo! didn't make any predictions for its full-year financials, unsurprising given that Mayer was not on the conference call to investors and has yet to make her plans for the firm known. ®

Application security programs and practises

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Nadella: Apps must run on ALL WINDOWS – PCs, slabs and mobes
Phone egg, meet desktop chicken - your mother
White? Male? You work in tech? Let us guess ... Twitter? We KNEW it!
Grim diversity numbers dumped alongside Facebook earnings
Microsoft: We're making ONE TRUE WINDOWS to rule us all
Enterprise, Windows still power firm's shaky money-maker
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.