CEO Mayer 'not satisfied' with Yahoo's disappointing results
By Glenn Chapman, AFP
July 17, 2014, 12:01 am TWN
SAN FRANCISCO--Yahoo on Tuesday reported quarterly earnings showing a revenue slump and prompting chief executive Marissa Mayer to declare "we are not satisfied."
Net profit in the second quarter dropped 19 percent from a year ago to US$270 million, in results weaker than expected.
Revenue meanwhile fell four percent to US$1.08 billion, also below analyst expectations.
"Our top priority is revenue growth and by that measure we are not satisfied with our Q2 results," Mayer said in a statement nearly two years after being named to head the Internet pioneer.
She noted that "several areas showed strength," but that other segments such as display advertising lagged.
These are trends "further highlighting the fact that we need to work faster to ameliorate the negative trends," Mayer said.