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Yahoo has gained a two per cent rise in revenue under the leadership of new boss Marissa Mayer.
The company’s revenue for Q3 was $1.09bn (£680m), compared with $1.07bn for the same period a year earlier.
The first complete quarter with Mayer as CEO saw Yahoo’s net profit rise to $3.2bm, from $298m for the same period last year, although a large chunk of this was due to the company’s sale of its stake in Alibaba, a Chinese e-commerce business. This sale earned Yahoo $2.8bn.
Excluding the sale of Alibaba, Yahoo still increased its earnings to $0.35 per share and beat analysts’ expectations of $0.26 per share.
Mayer described the quarter as solid and said the company is encouraged by what it considers a stabilisation of the display and search ad revenue. During a conference call with analysts, the CEO said her first few months on the job have been ‘incredibly energising’.
Although Yahoo is ranked among the top in the global industry, with 700 million users visiting its site every month, it is reported that the activity on its site is steadily declining, as is its employees it seems. The company’s number of employees has decreased by 12 per cent to 12,000, from 13,700 a year earlier.
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