Yahoo! Inc.(NASDAQ:YHOO)’s encouraging quarterly
results show that new chief executive Marissa Mayer has bent to the task of
revamping the internet portal and bringing it back to its winning ways.
While obviously the company has a long way to go
before it can regain anything of its former glory, the results announced by the
company show that it is on the right track.
The figures themselves were much better than what
analysts had forecast. This is the third straight year that its revenues have
risen and this sustained and consistent performance underscores the seriousness
of the top management and their commitment to improve the fundamentals of the
company.
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Yahoo earned $3.2 billion, or $2.64 per share, during
the three months that ended in September. It earned $293 million, or 23 cents
per share, at the same time last year.Net revenue in the latest quarter rose 2
percent to $1.09 billion. That was about $10 million more than analysts had
predicted.
Mayer's determination to hit the ground running was
proved when she took on the assignment when she was still pregnant with her
first baby and then returning to work just a few weeks after the baby was born
on September 30th.
When she had initially joined and she had made some
sweeping changes to the way of functioning at the company, especially with
regard to rewarding shareholders from the sale of Yahoo's stake in Alibaba, she
had met with some criticism.
Some of her critics said that she was trying to mould
the company in the image of Google, her former employer.
However the results have proved that whatever the
means, it is yielding results.
Mayer has said that she wants to make Yahoo a `daily
habit' for its 700 million users. She has set in motion a plan to revamp the
Yahoo interface and its homepage as well as the content that is available now.
Apart from applications for smartphones and tablets
for delivery of Yahoo's services, there are also plans to increase the range of
services through acquisitions.
"Our products will change how people learn, share
and communicate," Mayer said. "We will inspire, innovate and
entertain."
Shares of YHOO jumped over 4% in the pre-open session.
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