yahoo logs loss as it courts potential buyers
Last Updated : GMT 09:03:51
Almaghrib Today, almaghrib today
Almaghrib Today, almaghrib today
Last Updated : GMT 09:03:51
Almaghrib Today, almaghrib today

Yahoo logs loss as it courts potential buyers

Almaghrib Today, almaghrib today

Almaghrib Today, almaghrib today Yahoo logs loss as it courts potential buyers

Yahoo President and CEO Marissa Mayer
San Francisco - AFP

Yahoo reported a quarterly loss on Tuesday as the struggling Internet pioneer continued to court potential buyers and examine other strategic options.

Yahoo chief executive Marissa Mayer said the company has "made substantial progress toward potential strategic alternatives" while working to trim costs and drive growth.

The company reported a net loss of $99 million in the first quarter, compared with a $21 million profit a year earlier.

Revenues slumped to $1.09 billion compared to $1.23 billion in same period a year earlier.

Yahoo chief financial officer Ken Goldman said the results were "at the high end or above our guidance ranges," and that company continued to look at "the strategic alternatives process as a top priority."

The firm offered no specifics, saying its board committee and legal advisors had talks "with interested strategic and financial parties."

Yahoo shares rose 1.4 percent to $36.84 in after-hours trade following the release.

"While slightly better than expectations, Yahoo’s results point to a gradual decline in most financial indicators over time and against key competitors," said Warwick Business School's Sotirios Paroutis, who has studied Yahoo.

"What parts of the business will be sold to whom and at what price are the next strategic decisions for Yahoo’s management."

- Courting bidders -

US telecoms giant Verizon has emerged as a leading contender to take over Yahoo as other big names reportedly drop out, according to US financial media.

Chances for Verizon Communications have climbed as Google parent Alphabet, Time Inc. and US broadcasting and cable television group Comcast all decided against making an offer, the Wall Street Journal said, citing unnamed sources, just before a reported deadline for submissions passed on Monday.

Bloomberg News, also citing unnamed sources, said Verizon is now vying for Yahoo's core business against at least two other bidders: TPG, a private equity firm, and YP Holdings, the online advertising business of what was previously called Yellowpages.com.

Daily Mail and General Trust, the parent group behind British tabloid Daily Mail, revealed last week that it was in talks with "a number of parties" over a potential bid for Yahoo, but it is unclear whether the negotiations resulted in an offer.

Although Mayer declined to reveal who was in the bidding for Yahoo and what offers, if any, had been made, she did say during an earnings call with analysts that management takes part in daily calls or meetings with the review committee or its consultants.

"We are moving expeditiously," she said.

- Mayer's Mavens -

Meanwhile, workers inside Yahoo are pursuing a plan to revive the company despite the "external noise," Mayer said.

Yahoo has been working to separate its core business from its valuable stake in Chinese Internet colossus Alibaba, and any deal is likely to be only for the declining "core" operations.

Although Yahoo is one of the best-known names on the Internet, used by around a billion people, it has fallen behind Google in web searches and been steadily losing ground in online advertising.

In February, Yahoo said it was cutting 15 percent of its workforce and narrowing its focus as it explored "strategic alternatives."

Mayer has simultaneously been working to revive growth and made priorities of what she refers to as "Mavens" -- mobile, video, native advertising and social media.

Revenue from Mavens was on track to top the company's $1.8 billion forecast for this year, Yahoo said.

Mayer's loyalists maintain that Mavens are a hidden success story at Yahoo, blossoming while the company's legacy business withers.

But some shareholders are impatient, and one activist investment group has launched a bid to gain control of Yahoo's board, calling the transformation efforts a failure.

Industry tracker eMarketer forecast that digital ad revenue this year at Yahoo will fall nearly 14 percent to $2.83 billion while money raked in by Silicon Valley rivals Google and Facebook will rise.

 

almaghribtoday
almaghribtoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

yahoo logs loss as it courts potential buyers yahoo logs loss as it courts potential buyers

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

yahoo logs loss as it courts potential buyers yahoo logs loss as it courts potential buyers

 



Almaghrib Today, almaghrib today Skincare PR Performance Full Year 2017

GMT 09:22 2018 Monday ,22 January

Skincare PR Performance Full Year 2017
Almaghrib Today, almaghrib today New hunt for flight MH370 gets under way

GMT 11:03 2018 Wednesday ,24 January

New hunt for flight MH370 gets under way
Almaghrib Today, almaghrib today Modern colorful bedroom renovation

GMT 10:57 2017 Thursday ,21 December

Modern colorful bedroom renovation
Almaghrib Today, almaghrib today Puigdemont candidate for Catalan president

GMT 13:56 2018 Tuesday ,23 January

Puigdemont candidate for Catalan president
Almaghrib Today, almaghrib today Turkey detains dozens more

GMT 10:47 2018 Wednesday ,24 January

Turkey detains dozens more

GMT 12:48 2011 Monday ,04 July

Gilbert favourite for win number 2 on Tour

GMT 08:12 2017 Wednesday ,15 February

UAE, Pakistan can benefit from CPEC, says envoy

GMT 09:07 2016 Friday ,19 August

Gawker.com to shut down next week

GMT 03:39 2012 Saturday ,04 August

Shyamalan, Noxon team up for Syfy pilot

GMT 20:13 2012 Friday ,21 December

We need a new cabinet to solve the crisis

GMT 10:01 2014 Thursday ,31 July

Kirstie Alley's TV Land series canceled

GMT 08:15 2016 Thursday ,29 December

Why Don’t We Conserve Water?

GMT 10:58 2011 Sunday ,17 July

IMF urges Europe to bolster lenders

GMT 18:21 2011 Wednesday ,29 June

Zarkana\': Cirque du Soleil debuts new gamble in NY

GMT 11:24 2013 Wednesday ,24 July

Living room interior decoration ideas

GMT 08:35 2012 Thursday ,24 May

Ancient jewellery found in Israel

GMT 14:32 2011 Friday ,16 September

The Fat Years

GMT 11:32 2015 Tuesday ,06 January

Why are there spots on my apple?
Almaghrib Today, almaghrib today
 
 Almaghrib Today Facebook,almaghrib today facebook  Almaghrib Today Twitter,almaghrib today twitter Almaghrib Today Rss,almaghrib today rss  Almaghrib Today Youtube,almaghrib today youtube  Almaghrib Today Youtube,almaghrib today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

.almaghribtoday .almaghribtoday .almaghribtoday .almaghribtoday
almaghribtoday almaghribtoday almaghribtoday
almaghribtoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
almaghribtoday, Almaghribtoday, Almaghribtoday