Yahoo CEO Marissa Mayer: Company Is No Longer in Decline
Yahoo's stock has climbed six
percent in after-hours trading after an earnings report that bested Wall
Street analysts’ expectations, albeit slightly. The tech giant reported
revenue of $1.09 billion and earnings per share of $0.38 per share —
both $0.01 better than expected.
Yahoo neither grew nor contracted
in the first quarter, and that will have to suffice as progress for a
company that has not reported revenue growth the past several quarters.
“We believe we've moved our core
business from being in decline to stable to modest growth,” CEO Marissa
Mayer said on the company's earnings call Tuesday, citing growth in both
display and search revenue. She made the comments while showing a graph
with five stages of growth.
Mayer is still looking for a new
top revenue officer after letting go COO Henrique De Castro – a
high-profile executive she pilfered from Google, her former employer as
well.
The big question marks
surrounding Yahoo are Alibaba, the Chinese shopping giant in which Yahoo
owns a stake, and mobile revenue, where Yahoo needs to exhibit growth.
Yahoo has experienced growth in
users and page views for many of its new mobile properties, and Mayer
identified mobile, social, native advertising and videos as the key
areas of growth for Yahoo's future.
Video is of the most interest to
those in Hollywood, and there has been a lot of conversation about
Yahoo's strategy for original video. Some speculated they will fund
premium shows like Netflix and others saying they are building their own YouTube. Mayer was deliberately vague Tuesday.
“We'll continue to bring original
content, but do so with more focus and quality,” Mayer said. “Smart and
strategic investments in video can help us grow our consumer offerings,
traffic and revenue.”
The post Yahoo CEO Marissa Mayer: Company Is No Longer in Decline appeared first on TheWrap.
By Lucas Shaw
Posts
0 comments: