Tuesday, July 19, 2016

Yahoo Revenue Falls 15 Percent and Profit Drops 64 Percent - The New York Times

From Yahoo's final earnings report as an independent company; also see Yahoo CEO gamely delivers weak results no one cares about and no news on sale that everyone does (Recode)
"Yahoo said it was writing off an additional $482 million of Tumblr’s purchase price on top of the $230 million write-off it took in the first quarter.

In the second quarter, Yahoo’s revenue was $1.31 billion, up from $1.24 billion in the same quarter a year ago. But the most recent quarter’s revenue rose only because of a change in how Yahoo accounts for revenue from its search partnership with Microsoft. Excluding those changes, revenue fell 15 percent, and both search ads and display ads posted significant drops.

The company reported a net loss of $440 million, or 46 cents a share, for the quarter, compared with a loss $22 million, or 2 cents a share, in the same quarter a year ago. Excluding the Tumblr write-off and other adjustments, the company’s operating profit fell 64 percent."
Yahoo Revenue Falls 15 Percent and Profit Drops 64 Percent - The New York Times
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