The performance of Yahoo over the third quarter was far from spectacular, as Marissa Mayer, the chief executive, pushes on with her efforts to overhaul the company’s services and products. Her ideas and initiatives will be vital if Yahoo is ever to compete successfully with its rivals – the search giant Google of course being the main one.
Yahoo’s revenue figure for the three months up to the end of September was $1.08bn. This is one per cent lower than in 2012. Wall Street took the news calmly as the figure was in line with its expectations. The stock market is obviously confident that Mayer can deliver positive results if given time, as the price of the shares strengthened slightly after the announcement of the figures.
Many commentators had expected this dearth of growth for Yahoo as Mayer only arrived last year having previously worked for Google. She will obviously need more time to implement new ideas and changes across the business that will propel it back into growth and drive it forward into the future. She is confident that her efforts so far are bearing fruit as more users are now taking advantage of Yahoo’s services.
Mayer commented: “With more than 800 million monthly users on Yahoo – up 20 percent over the past 15 months – we’re achieving meaningful increases in user engagement and traffic.”
It remains to be seen how this develops over the coming months but the chief executive certainly has her work cut out if she is ever going to cause the midnight oil to be burned in the boardroom at Google.