Feeds

CEO Marissa Mayer puts on brave face as Yahoo! shows another loss

They're! Still! Hemorrhaging! Cash!

Internet Security Threat Report 2014

Yahoo! has once again seen revenues slip as CEO Marissa Mayer struggles to get the company back on track.

The Purple Palace reported quarterly revenues of $1.27bn, which was down 6 per cent from the same period last year. Full-year revenues also fell 6 per cent, to $4.68bn.

Yahoo!'s operating income for the quarter was $174.22m, an 8 per cent decline from the year-ago period. That in turn led to earnings of 35 cents per diluted share, which missed analyst estimates.

Revenue from Yahoo​!'s display ad business was down 6 per cent for the quarter and 9 per cent for the fiscal year, while search ad revenues dropped 4 per cent for the quarter and 8 per cent for the year.

The figures come as the latest setback to the company's turnaround effort behind CEO Marissa Mayer. The former Google exec played up the company's recent product re-launches and acquisitions as signs that Yahoo! is in fact doing better than its latest numbers would indicate.

"We saw continued stability in the business, and our investments allowed us to bring beautiful products to our users and establish a strong foundation for revenue growth," said Mayer in a statement. "In Q4, we launched the new Yahoo! Mail, Yahoo! Finance, and our new Flickr photo books, while quickening our pace of experimentation."

The company has in fact worked to shore up its product lineup in recent months. At this year's CES conference in Las Vegas, Mayer unveiled a host of new services which included revamps of existing products as well as acquired products such as news aggregator Summly.

The company has been aggressive in acquiring new products to boost its brand and regain its status with end-users as a provider of new web services.

Even before Yahooannounced its latest financial hit, however, cracks were starting to show in the turnaround campaign. Earlier this month, chief operating officer Henrique de Castro abruptly left the company less than two years after being lured away from Google to the Purple Palace.

Shortly after news of the departure broke, leaks out of Sunnyvale suggested that Mayer herself was responsible for sacking de Castro. The Yahoo! chief said during Tuesday's earnings announcement that the appointment of a new COO was not imminent and that she would be taking over many of de Castro's day-to-day duties.

Shares in Yahoo! dropped by some 2.4 per cent in after-hours trading following the earnings announcement, to land at $37.29. ®

Remote control for virtualized desktops

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Big Content outs piracy hotbeds: São Paulo, Beijing ... TORONTO?
MPAA calls Canadians a bunch of bootlegging movie thieves
Google Glassholes are UNDATEABLE – HP exec
You need an emotional connection, says touchy-feely MD... We can do that
YARR! Pirates walk the plank: DMCA magnets sink in Google results
Spaffing copyrighted stuff over the web? No search ranking for you
Just don't blame Bono! Apple iTunes music sales PLUMMET
Cupertino revenue hit by cheapo downloads, says report
Hungary's internet tax cannot be allowed to set a precedent, says EC
More protests planned against giga-tariff for Tuesday evening
US court SHUTS DOWN 'scammers posing as Microsoft, Facebook support staff'
Netizens allegedly duped into paying for bogus tech advice
prev story

Whitepapers

Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Top 5 reasons to deploy VMware with Tegile
Data demand and the rise of virtualization is challenging IT teams to deliver storage performance, scalability and capacity that can keep up, while maximizing efficiency.
Mitigating web security risk with SSL certificates
Web-based systems are essential tools for running business processes and delivering services to customers.