Feeds

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

New CEO silent on her plans as payouts hit Q2 income

Reducing security risks from open source software

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. ®

Mobile application security vulnerability report

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 ran off to IBM
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
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
Samsung threatens to cut ties with supplier over child labour allegations
Vows to uphold 'zero tolerance' policy on underage workers
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
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
prev story

Whitepapers

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Reducing security risks from open source software
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.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.