After years of steady declines, Yahoo is finally able to show a positive revenue growth as revealed on its third-quarter results. Such progressive development strengthens theories that things will continue to get better at the California-based company, especially under the supervision of its new chief executive Marissa Mayer.
Results of Yahoo’s third quarter profits were reviewed Monday night, giving good news to all members of the sagging Internet Company.
Yahoo disclosed that within three months till the end of September, the company obtained a total net of $3.2 billion or $2.64 per share. Majority of the overall profit comes from a one-time increase of $2.8 billion, acquired from selling 50 percent of its stake in one of China’s most prosperous Internet firms, Alibaba Group. At the same period of last year, Yahoo has earned $293 million or 23 cents per share.
According to the company, it would have netted 35 cents a share if not for the Alibaba payout and streamlining fees. Based on this, Yahoo has surpassed the average earnings appraisal of 26 cents a share, with no trouble. Part of the overall profits comes from a lower tax rate, subsidizing the company with a total of $135 million.
Mayer was given the chance to publicly share her vision for Yahoo! on Monday’s review of the results. On this event, the new CEO disclosed her visions to warrant Yahoo’s services would become a “daily habit” for its 700 million subscribers. Yahoo’s search engine and email service were also among the emphasized areas of concern. Mayer also mentioned about restructuring Yahoo’s home page, in a bid to make it even more effective.
Mayer has promised to secure additional resources which will be utilized in the development of services for tablet computers and smartphones. Through acquisitions, the CEO is positive that Yahoo’s product line-up could boost. Focusing on relatively minor startups eager to sell for less than $100 million, for most of the deals would be her initial approach to accomplishing future goals.
Mayer (37) highlighted her determination to take Yahoo back into the top, in a gradual yet guaranteed manner. In conjunction to this, the CEO warrants to offer Yahoo products that will change the way people learn, share, and communicate. Mayer however, did not provide specifics as to how she plans to achieve all her aforementioned objectives but said it will be inspiring.
Prior to becoming Yahoo’s President and CEO, the American businesswoman Marissa Mayer has worked with rival Google, as an executive and key spokesperson for a long time. Her major contributions are manifested in Google Images, Google Searches, Google News, Google Product Search, Google Toolbar, Google Books, Gmail, iGoogle, Google Maps and the simple, yet famed Google search homepage layout.
She was appointed President and CEO of Yahoo on July 16th, 2012.
All her preceding work proficiencies with Google signify a promising prospect for its rival Yahoo at present. A matter of this fact is the steady progress showing up in Yahoo’s recent revenue report card that covers Mayer’s first few months of management. Google, on the other hand, is posting an awful Q3 profits decline.