Yahoo reports 44% drop in Q2 earnings, writes down Tumblr's value by more than 40%
posted by Alan F. / Jul 18, 2016, 7:45 PM
In announcing today a 44% year-over-year decline in per share earnings for the second quarter (from 16 cents a share to 9 cents), Yahoo also said that in retrospect it paid too much for Tumblr and took a $482 million write off. Yahoo had been carrying Tumblr on its balance sheet at a valuation much higher than its true worth. Earlier this year, another $230 million was written off Tumblr's value after the app failed to meet certain revenue targets. Yahoo also reported today a gain of $65 million in revenue year-over-year to $1.35 billion, for the three month period ended in June.
Final bids are due this week as the auction of Yahoo nears a conclusion. Verizon is considered one of the leading bidders for the company, which isexpected to draw a winning bid in the range of $3.5 to $5 billion.
Posts: 2356; Member since: Aug 01, 2015
CEO Marissa Mayer should've been fired long ago.
posted on Jul 18, 2016, 7:56 PM 11
Posts: 6032; Member since: Aug 06, 2013
Well she hasn't been in the role for too long, just 4 years, and when your the CEO of a internet search engine that's not Google then you've got your work cut out for you.
posted on Jul 18, 2016, 8:14 PM 1
Her sexiness makes me want to drop my pants for her and use yahoo.
posted on Jul 18, 2016, 8:18 PM 1
Posts: 14967; Member since: Sep 25, 2013
Its not her fault, Yahoo was already going down. She is just helping to drive it even further. No CEO could have helped Yahoo. Yahoo just didn't change with the times fast enough. That is what happens when money is to important. The original owner should never have sold it. He probably had the sense to evolve Yahoo with todays tech. Yahoo should have been what FB is now.
posted on Jul 19, 2016, 12:44 PM 1
Posts: 30974; Member since: Feb 05, 2011
Sexy ass CEO.
posted on Jul 18, 2016, 8:16 PM 6
Posts: 2369; Member since: Apr 30, 2013
They built her up and hyped her capabilities because she was propped up to be a "capable female leader" - all this actually did was just set her up for failure in the long run because people expect unreasonable great achievements.
posted on Jul 18, 2016, 8:52 PM 1
Posts: 455; Member since: Feb 21, 2013
If she was working for PornHub I guess they would have met their targets. As for now, she should consider herself, screwed.
posted on Jul 18, 2016, 11:18 PM 0
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