Yahoo net income exceeds investor forecasts, but display and search revenue falls sharply
The earnings for Yahoo came in better that expected thanks to cost cutting, but CEO Marissa Mayer will not be bragging about the results as the company has decided not to have an investor conference call. You can understand why, what with questions about the hack of customer information, its tenuous deal with Verizon, and all.
“We remain very confident, not only in the value of our business, but also in the value Yahoo products bring to our users’ lives,” Mayer said in the earnings statement released after the bell this afternoon. “To that end, we take deep responsibility in protecting our users and the security of their information. We’re working hard to retain their trust and are heartened by their continued loyalty as seen in our user engagement trends.”
The top line numbers looked pretty good, and mobile revenue grew – but display ad revenue was down 7 percent, while search revenue was down even more, 7 percent.
Honestly, does any of this matter at this point. Verizon (unwisely in my opinion) decided to scoop up Yahoo for $4.8 billion, and now is likely to try and squeeze a little in light of the customer hack news, hoping to either swing a better deal, or get out of it altogether.
About that subject there is nothing Mayer can say, so why bother to have a conference call?