Pakistanis angry over detentions in Times Sq. case Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They
AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e
BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German
Minister seeks closure of anti-Berlusconi websites Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who
By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an
Edition:
U.S.
Africa
Arabic
Argentina
Brazil
Canada
China
France
Germany
India
Italy
Japan
Latin America
Mexico
Russia
Spain
United Kingdom
Home
Business
Business Home
Economy
Technology
Media
Small Business
Legal
Deals
Earnings
Social Pulse
Business Video
The Freeland File
Markets
Markets Home
U.S. Markets
European Markets
Asian Markets
Global Market Data
Indices
M&A
Stocks
Bonds
Currencies
Commodities
Futures
Funds
peHUB
World
World Home
U.S.
Brazil
China
Euro Zone
Japan
Mexico
Russia
India Insight
World Video
Reuters Investigates
Decoder
Politics
Politics Home
Election 2012
Issues 2012
Candidates 2012
Tales from the Trail
Political Punchlines
Supreme Court
Politics Video
Tech
Technology Home
MediaFile
Science
Tech Video
Tech Tonic
Social Pulse
Opinion
Opinion Home
Chrystia Freeland
John Lloyd
Felix Salmon
Jack Shafer
David Rohde
Bernd Debusmann
Nader Mousavizadeh
Lucy P. Marcus
David Cay Johnston
Bethany McLean
Edward Hadas
Hugo Dixon
Ian Bremmer
Lawrence Summers
Susan Glasser
The Great Debate
Steven Brill
Jack & Suzy Welch
Breakingviews
Equities
Credit
Private Equity
M&A
Macro & Markets
Politics
Breakingviews Video
Money
Money Home
Tax Break
Lipper Awards 2012
Global Investing
MuniLand
Unstructured Finance
Linda Stern
Mark Miller
John Wasik
James Saft
Analyst Research
Alerts
Watchlist
Portfolio
Stock Screener
Fund Screener
Personal Finance Video
Money Clip
Investing 201
Life
Health
Sports
Arts
Faithworld
Business Traveler
Entertainment
Oddly Enough
Lifestyle Video
Pictures
Pictures Home
Reuters Photographers
Full Focus
Video
Reuters TV
Reuters News
Article
Comments (0)
Counterparties: Today's Best Links
Obama's "politically astute" tax return
President Obama's tax return is quite different from Mitt Romney's, Fortune's Allan Sloan writes. Obama's return uses none of the controversial (but perfectly legal) elements of the tax code. Read more at Counterparties
Income inequality scholars call for higher taxes
JPMorgan CEO's pay equal to 67 bankers
Follow Reuters
Facebook
Twitter
RSS
YouTube
Read
Afghan schoolgirls poisoned in anti-education attack
17 Apr 2012
Human-made earthquakes reported in central U.S
17 Apr 2012
Kansas wind erosion laboratory blown away
12 Jun 2008
Special Report: Tax time pushes some Americans to take a hike
16 Apr 2012
Warren Buffett has prostate cancer, sees no danger
17 Apr 2012
Discussed
147
Trayvon Martin’s killer showed signs of injury: neighbors
136
Obama paid 20.5 pct tax rate in 2011: White House
106
North Korea launches rocket amid international condemnation
Watched
Shuttle Discovery piggybacks over U.S. capital
Tue, Apr 17 2012
Police run over citizens during protest
Tue, Apr 17 2012
Norway killer calls attack "sophisticated and spectacular"
Tue, Apr 17 2012
Pictures
Reuters Photojournalism
Our day's top images, in-depth photo essays and offbeat slices of life. See the best of Reuters photography. See more | Photo caption
Discovery's last flight
Space shuttle Discovery took off on its final voyage to the Smithsonian Museum. Slideshow
Syrian uprising
A look inside Syria as mass protests give way to rebellion. Slideshow
Yahoo shows signs of life, Alibaba in the cards again
Tweet
Share this
Email
Print
Related News
Yahoo shows signs of life, Alibaba in the cards again
Tue, Apr 17 2012
Intel revenue forecast beats, but stock falls
Tue, Apr 17 2012
Wall Street rallies on earnings, Europe helps
Tue, Apr 17 2012
Google stock drops 4 percent as advertisement rates fall again
Fri, Apr 13 2012
Exclusive: Starboard's activism turning off some AOL investors
Fri, Apr 13 2012
Analysis & Opinion
Counterparties: Why Facebook bought Instagram
No hard landing for Chinese real estate
Related Topics
Tech »
Hot Stocks »
Asian Markets »
Media »
Yahoo Inc. offices, housing its Search Marketing Group, are pictured in Burbank, California, in this October 14, 2010 file photograph. Yahoo Inc said it earned net income of $286 million, or 23 cents a share, in the first quarter. The Internet company reported net revenue, which excludes fees paid to partners, of $1.077 billion, compared to $1.064 billion in the year-ago period.
Credit: Reuters/Fred Prouser/Files
By Alexei Oreskovic
SAN FRANCISCO |
Tue Apr 17, 2012 8:49pm EDT
SAN FRANCISCO (Reuters) - Yahoo Inc reported an uptick in revenue that marked its first quarterly sales growth in three years, as new Chief Executive Scott Thompson outlined his plan to revamp the struggling Web company.
Citing moves to shut down dozens of underperforming online properties, while making online commerce and mobile products a bigger part of Yahoo's business, Thompson described "the first steps" to regain market share from online rivals and revive the company's growth.
"I'm convinced that we don't need to reinvent who we are," Thompson said during a conference call with analysts on Tuesday. "But I'm equally convinced we absolutely do need to reinvent the experiences our users have with the marquee properties that bring them to Yahoo every day."
Thompson also said that Yahoo was once more exploring ways to "monetize" some of its stake in China's Alibaba Group.
Shares of Yahoo increased 2.7 percent to $15.41 in after hours trading on Tuesday.
The comments marked the most extensive details Thompson has provided about his strategy since taking the top job at Yahoo in January.
But the former PayPal president faces a high wall of skepticism from investors who have watched several failed attempts to restructure and revitalize the one-time Web pioneer in recent years. Carol Bartz, Thompson's immediate predecessor, was fired over the phone in September.
"I didn't hear anything particularly aggressive or transformative in what he said," said Macquarie Research analyst Ben Schachter.
"While Scott has a great track record, the company itself has done many of these things," in the past, Schachter said.
Yahoo said its net income grew 28 percent in the three months ended March 31 to $286 million, or 23 cents a share, outpacing Wall Street expectations of 17 cents a share.
Much of the increase in quarterly profit came from Yahoo's earnings in equity interests, which more than doubled year-on-year and comprise mainly its investments in Alibaba as well as Yahoo Japan.
"Their minority stake in their investments is generating more profit than their core business," said BGC Partners analyst Colin Gillis.
ASIAN TALKS
Yahoo's plans for its Asian assets are being closely watched by investors, many of whom have argued that Yahoo should sell all or part of its holdings in the companies.
Thompson told analysts that Yahoo was exploring a simpler deal to try and "monetize" its 40 percent slice of China's Alibaba, a stake valued at billions of dollars and that Yahoo once discussed unloading in a complex tax-efficient transaction.
Thompson did not elaborate, but his comments suggest the company -- which broke off deal talks with Alibaba and Softbank last year -- was willing to go back to the negotiating table. He said that returning cash to shareholders, in the event of such a deal, would be at the "top of the list" of priorities.
Thomson also noted that plans to monetize its stake in Yahoo Japan, underway for more than a year, have been beset by a "valuation gap" which the parties have failed to "bridge." As a result, Thompson said, Yahoo was now focused on talks with Alibaba.
Yahoo's partnership with Microsoft Corp is also a work in progress. The 10-year search deal that the two companies entered into in 2009 has not performed up to expectations.
Thompson said he was personally working with Microsoft Corp to improve the payoff from the companies' 10-year search partnership, which has not lived up to expectations.
Even so, Yahoo said that better-than-expected performance for its search ads helped the company increase its quarterly net revenue year-on-year for the first time since the third quarter of 2008.
Yahoo's core display advertising business declined 4 percent during the first quarter.
The company's net revenue, which excludes payments to partners, totaled $1.077 billion in the first quarter, compared to $1.064 billion in the year-ago period. Analysts polled by Thomson Reuters I/B/E/S were looking for net revenue of $1.06 billion.
It forecast net revenue in the second quarter of between $1.03 billion and $1.14 billion.
Once one of the Web industry's pioneering companies, Yahoo has seen its growth stunted in recent years amid competition from Google Inc and Facebook.
Thompson, the former president of PayPal who took the reins in January, announced plans this month to lay off 14 percent of Yahoo's staff and reorganize the management structure.
Thompson said on Tuesday that Yahoo is shutting down or "transitioning" roughly 50 properties that do not contribute meaningfully to user engagement or revenue.
As part of the reorganization, Thomson created a new "commerce" group which will initially consist of existing Yahoo online properties such as real estate and auto listings.
But analysts said Thompson was short on details on the commerce group, as well as on plans to bolster Yahoo's efforts in mobile.
Mobile is viewed as a critical area for Web companies, as consumers increasingly access the Internet from wireless devices such as smartphones and tablet PCs. Earlier this month, Facebook announced a $1 billion deal to acquire Instagram, a mobile photo-sharing apps.
"If you have a company out there that's paying a billion dollars for a mobile app and you have Google going after Android and Motorola...what's Yahoo's whole play on this?" said Susquehanna Financial Group analyst Herman Leung.
"It's still a wait and see story," Leung said of Yahoo.
(Reporting By Alexei Oreskovic; Editing by M.D. Golan and Sugita Katyal)
Tech
Hot Stocks
Asian Markets
Media
Related Quotes and News
Company
Price
Related News
Tweet this
Link this
Share this
Digg this
Email
Reprints
We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/
Comments (0)
Be the first to comment on reuters.com.
Add yours using the box above.
Edition:
U.S.
Africa
Arabic
Argentina
Brazil
Canada
China
France
Germany
India
Italy
Japan
Latin America
Mexico
Russia
Spain
United Kingdom
Back to top
Reuters.com
Business
Markets
World
Politics
Technology
Opinion
Money
Pictures
Videos
Site Index
Legal
Bankruptcy Law
California Legal
New York Legal
Securities Law
Support & Contact
Support
Corrections
Connect with Reuters
Twitter
Facebook
LinkedIn
RSS
Podcast
Newsletters
Mobile
About
Privacy Policy
Terms of Use
AdChoices
Copyright
Our Flagship financial information platform incorporating Reuters Insider
An ultra-low latency infrastructure for electronic trading and data distribution
A connected approach to governance, risk and compliance
Our next generation legal research platform
Our global tax workstation
Thomsonreuters.com
About Thomson Reuters
Investor Relations
Careers
Contact Us
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.