Yahoo! CEO, Mariss Mayer, has announced the outline of her vision concerning Yahoo’s immediate and distant future. She commented that her strategy isn’t too different from her predecessors, however moves toward “improved execution and seeing opportunities.”
Where is Yahoo heading next? Mayer wants to push the once search giant toward a future within the mobile market. The company has already begun taking steps to conquer the mobile market, outfitting the workforce with newer mobile phones for product testing. Mayer said there are plans to hire more mobile engineers in the future, guaranteeing “…Yahoo will have a predominantly mobile company.”
Mayer also commented that, “Yahoo hasn’t capitalized on mobile opportunities.” She feels that Yahoo can benefit from the mobile market by introducing and following trends, which would subsequently make their content and investments relevant over time. This includes their actively used messaging and mail services, which Mayer feels are candidates for Yahoo’s mobile modernization.
Mayer later remarked that Yahoo wishes to concentrate more than half of its current workforce to build and refine their mobile services for all mobile platforms.
Within Yahoo’s third quarter report, their revenue reached $1.09 billion, a gain from the $1.07 billion of last year. The revenue from their search-related advertisement had an increase of 11%, reaching the figure of $414 million; in contrast, their display advertising generated at least $452 million in revenue, remaining stagnant for the same quarter the previous year.
Mayer commented that current market trends made search in general more compelling, despite the optimistic performance of both search and display advertising for the company.
Yahoo ended the quarter at $9.4 billion in cash and additional investments, posting a net income of $3.16 billion, an increase from the $293.3 million they had for the previous quarter. They also hold at $2.4 billion in reserve to handle taxes related to the sale of Alibaba.
In addition, Yahoo’s stock closed at $15.77 per share, down at least 7 cents, on NASDAQ. Their third-quarter earning report was initially released after the market closed, their shares climbing around 4% during the period of trading after-hours.
Moving forward, Yahoo wishes to develop better user experiences on both desktop and mobile platforms, expectantly leading to better advertisement revenue in the future for the company.