je.st
news
Yahoo to narrow focus, partner Google as profits fall
2015-10-21 08:30:00| Telecompaper Headlines
(Telecompaper) Yahoo! reported revenues for the third quarter up 7 percent year-on-year to USD 1.226 billion. Search revenue increased 13 percent to USD 509 million, after traffic acquisition costs of USD 119 million, and display revenue rose 14 percent to USD 509 million and generated USD 104 million in TAC. Mobile revenue, equal to USD 271 million, represented 24 percent of traffic-driven revenue in the third quarter, up from 20 percent a year ago. Adjusted operating profit was still down to USD 92 million from USD 156 million a year ago, and net profit dropped to USD 76 million from USD 6.77 billion in Q3 2014 when the group sold shares in Alibaba. CEO Marissa Mayer said the results were largely in line with expectations. Moving into 2016, she said the company will work to narrow its strategy, focusing on fewer products with higher quality to achieve improved growth and profitability. It's other top priority is the planned spin-off of Aabaco Holdings, the new company for its remaining stake in Alibaba. Yahoo also announced separately an agreement to take search services from Google.
Tags: google
yahoo
partner
fall
Category:Telecommunications