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Yahoo! posts Q1 loss on 11% lower revenues
2016-04-20 08:20:00| Telecompaper Headlines
(Telecompaper) Yahoo! reported a net loss of USD 99 million or 10 cents a share for the first quarter, compared to a profit of USD 21 million or 2 cents a share a year ago. Revenues fell to USD 1.087 billion, and adjusted operating profit plunged to USD 7 million from USD 80 million. The company said the results were near the high end of its expectations and it was making progress on its initiatives to reduce costs and stimulate growth. Yahoo provided little information on its ongoing strategic review, saying only that it was a "top priority". According to CEO Marissa Mayer: "we have made substantial progress towards potential strategic alternatives for Yahoo. Our board, our management team, and I are completely aligned on this top priority for shareholders."
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Category:Telecommunications