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Yahoo earnings higher than expected, could signal turnaround for the faltering company

Yahoo posts better than expected financial report, stock price barely moved

| Business, Financial & Legal News | Posted: Oct 22, 2012 8:40 pm

Yahoo has been faltering in the wake of Google's massive successes. Advertising revenue has fallen, traffic has fallen, and they were continuing to produce many products that didn't see much use. They hired in former Googler Marissa Mayer as their new CEO to help turn the company around, and it appears to be working.

 

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Yahoo performed better in the third quarter than analysts expected it to, a nice surprise considering Google and Microsoft both performed worse than expected. Sales only fell from $1.22 billion to $1.2 billion year-over-year. Earnings per share rose to $0.35, which is up from only $0.21 from the same period a year prior.

 

"Yahoo had a solid third quarter, and we are encouraged by the stabilization in search and display revenue," said Yahoo CEO Marissa Mayer. "We're taking important steps to position Yahoo for long-term success, and we're confident that our focus on quality and improving the user experience will drive increased value for our advertisers, partners and shareholders."

 

Stock prices weren't too affected by today's results, likely due to stock holders believing that Yahoo is still in a fragile state. After all, Mayer was only installed into the CEO position on July 16.

NEWS SOURCES:News.cnet.com

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