In Three Months Yahoo Reports Loss Of $99m

In Three Months Yahoo Reports Loss Of $99m 

The fading internet pioneer announces the fall in profits after suffering a $4.4bn loss in 2015, as its shares rose 1.5 percent.

23:12, UK, Tuesday 19 April 2016

Despite the slump, shares in the company rose 1.5%

Yahoo has reported a quarterly loss of $99m (£68m), months after revealing "aggressive" efforts to turn around its fortunes.

In February the struggling internet company announced a 15% cut to its workforce as part of a push to drive growth after its $4.4bn loss in 2015.
Chief executive Marissa Mayer said the firm has "made substantial progress towards potential strategic alternatives".
Yahoo chief financial officer Ken Goldman said the results were "at the high end or above our guidance ranges" and that company continued to look at "the strategic alternatives process as a top priority."
Despite the slump, shares in the company rose 1.5% in after-hours trading.

Video: 'Ticking Clock' For Mayer At Yahoo

The faded internet pioneer put its core business up for sale in February after shelving plans to spin off its lucrative $33bn (£23bn) stake in Chinese e-commerce business Alibaba – which could have landed it with a tax bill of more than $10bn (£7bn).
Possible buyers are said to include US telecoms giant Verizon Communications and publisher Time Inc, as well as private equity investors TPG and Kohlberg Kravis Roberts.
The publisher of the Daily Mail has reportedly been in talks with private equity companies about a takeover.
The potential deal is understood to involve two possible scenarios.
The first would see a private equity partner get Yahoo's core web business, with the Mail controlling the news and media arms.
A second would see a private equity firm buy Yahoo's web business and merge it with the Mail's online offering.
Yahoo was once one of the most powerful websites before it was overtaken by the likes of Google, Amazon and Facebook.
But despite falling out of fashion, it still attracts around 210 million visitors every month in the US alone.