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(Hosting-NewsWire.com, November 14, 2012 ) Redding, CA -- In her first conference call with analysts since coming from Google in July, Yahoo! Inc. CEO Marissa Mayer identified personal service and mobile technology as keys in her plan to turn around the nation’s largest Web portal. The new chief executive, the fifth for Yahoo! over the last four years, also told analysts she plans to match competitors’ rates of growth in such areas as display ads, online search, mobile apps and products like e-mail. She outlined plans to halt three consecutive years of lower sales by reviving growth in current businesses. To accomplish that, Mayer said she would hire engineers with mobile app expertise, ramp up Yahoo technology for buying and serving ads, and make Yahoo! services more personalized to the needs of individual users. Under Mayer, Yahoo! intends to focus on technologies and websites that are, in her words, “daily habits” for consumers. She mentioned such items as checking e-mail and getting stock quotes, saying her “vision and direction” for the company was “to make the world’s daily habits inspiring and entertaining.” Analysts heard her say Yahoo! would become a growth company “by inspiring and delighting our users.” Holders of Yahoo! shares may also have found themselves somewhat inspired and delighted, as the stock gained 5.7% to close at $16.67, its highest level in over a year. Yahoo! shares have risen 3.3% thus far this year. Saying she has been involved in acquiring 20 small firms thus far in her career, Mayer added she plans to avoid large-scale deals, and instead focus on acquiring start-ups and other small deals of less than $100 million. One Texas money manager voiced agreement with the strategy, saying large acquisitions “are not necessary to resume top-line growth.” The CEO also said she expects to move workers around within Yahoo, rather than cutting large groups of employees. Before the call, Yahoo! reported third-quarter profit and sales exceeding analysts’ estimates. Q3 per-share profits, minus selected items, hit 35 cents, ahead of analysts’ consensus estimate of 26 cents, and the 23 cents the company recorded a year earlier. Net income climbed to $3.16 billion, or $2.64 per share, up from $293.3 million in Q3 2011. Income in the current quarter included $2.8 billion in gains from Yahoo!’s sale of its stake in the Alibaba Group. Sales, not counting revenue passed on to partner sites, were up 2%, hitting $1.09 billion, slightly better than the $1.08 billion analysts expected. Driving the sales gain were search-related advertising, up 11% to $414.1 million. Display advertising revenues were flat, at $451.6 million. Profits were boosted by some job cuts. The company also reported Q3 product development costs fell 5.2%, to $217.3 million, and sales and marketing outlays were down 7.3%, to $269.3 million. About GTSLinkBuilding.com:
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Source: EmailWire.Com
Source: EmailWire.com
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