January 26, 2012 · 0 Comments
weather.info/home/index.cfm?city=New%20York%20City,%20NY,%20United%20States&latlon=40.71427,-74.00597&u=c”>New York, NY, United States (AHN) – Yahoo’s quarterly profits fell by 5 percent during the last three months of 2011, marking 13 consecutive quarters of declines.
Net income fell to $296 million, or 24 cents per share.
The latest quarterly report came three weeks into the company’s management under new chief executive Scott Thompson and one week after Yahoo’s co-founder, Jerry Yang, left the board of directors.
Company officials made no mention of what Yahoo’s new direction might be, but the board began a strategic review in September that includes selling the Asian assets.
All that company officials would tell investors is that Yahoo plans to build on its online editorial content while implementing more cost-controls even as revenue continues to drop. Yahoo has the most traffic of any online news site with 702 million monthly users, but Thompson acknowledged that it needs to improve the quality of customer experiences.
Although Yahoo reported that it increased its operating income by 10 percent, compared to the same quarter a year ago, it also reported declining revenue and profit for the second consecutive quarter.
Revenue fell 3 percent, to $1.17 billion, excluding the commissions that Yahoo pays to its partners.
By Emma Brown