Yahoo Tussles With Poor Earnings Ahead Of Sale
Verizon and other suitors are lining up to buy Yahoo four years after CEO Marissa Mayer tried to turn it around.
Those in the queue look to inherit a declining business, as Yahoo’s first quarter earnings report shows.
Overall, revenue fell 11 percent and adjusted earnings fell 36 percent, as Yahoo posted a net loss of $99 million. The company’s search business declined 15 percent to $820 million in gross sales.
But “we remain focused on the strategic alternatives process as a top priority,” said Yahoo chief financial officer Ken Goldman.