Yahoo reported a quarterly net loss on Tuesday but beat analysts’ expectations as its new chief executive vowed to do whatever it takes to right the Internet pioneer’s financial ship.
“It is my job to make sure we look at anything that makes sense long term for the company and creates value,” said Carol Bartz, who took Yahoo’s helm last week.
“So yes, everything is on the table. This is not a company that needs to be pulled apart and left for the chickens. It is my job to make sure if there is something interesting to look at, we look at it,” she said.
Bartz assured analysts and news reporters on a conference call that she “didn’t come here to sell the company” and refused to discuss reports that Yahoo executives have been meeting with counterparts from Microsoft.
Yahoo spurned Microsoft’s efforts last year to buy the California firm for nearly US$47 billion.
Microsoft has expressed continued interest in purchasing the Internet search portion of Yahoo’s business to better battle Google in the online advertising arena.
“I didn’t come here to sell the company,” Bartz said, leaving open the option of some kind of deal with Microsoft.
“It is my job to do what is best for our shareholders and our customers. I am still working my way through the thought process,” she said.
Bartz maintained that search is an “incredibly valuable” part of Yahoo’s business.
The Internet pioneer reported a net loss of US$303 million for the fourth quarter of last year compared with a net profit of US$206 million for the same quarter a year earlier.
Leaving aside a goodwill write-down of US$488 million and restructuring charges of US$108 million, Yahoo posted an adjusted net profit for the quarter of US$238 million.
Revenues fell 1 percent in the fourth quarter from a year ago to US$1.81 billion.
Earnings per share were US$0.17, while Wall Street analysts had expected Yahoo to report making US$0.13 a share. For the year, Yahoo’s earnings per share were US$0.46 higher than the US$0.42 expected by analysts.
Net profit for the year was US$424 million, down 35.7 percent from last year.
“Despite the challenging economic environment, Yahoo delivered adjusted operating cash flow above the midpoint of guidance for the fourth quarter,” Bartz said.
“The company also made important investments while aggressively managing costs, leaving us better positioned to weather the economic downturn and emerge stronger when advertiser spending improves,” she said. “We have work to do, but I am excited by Yahoo’s opportunities.”
When asked for details of her “road map” for Yahoo this year, Bartz took a jab at unconfirmed media reports and speculation by responding: “I thought I’d buy the New York Times tomorrow ... Just kidding.”
MANAGING RISKS: Taiwan has secured LNG sufficient to cover 95 percent of electricity demand for next month, UBS said, describing the government’s approach as proactive UBS Group AG has raised its forecast for Taiwan’s economic growth this year to 8 percent, up from 6.9 percent previously, and said expansion could reach as high as 8.6 percent if external energy shocks are avoided. The upgrade reflects a stronger-than-expected first-quarter performance and sustained momentum in artificial intelligence (AI)-driven exports, which UBS said are providing a firm foundation for growth despite geopolitical and energy risks. Taiwan’s GDP expanded 13.69 percent year-on-year in the first quarter, the fastest growth since the second quarter of 1987, the Directorate-General of Budget, Accounting and Statistics (DGBAS) reported on Thursday. On a seasonally
The Fair Trade Commission’s (FTC) ongoing review of Grab Holdings Ltd’s US$600 million acquisition of Foodpanda Taiwan’s operations, announced on March 23, has taken on fresh urgency as industry experts warn that the transaction could embed significant Chinese cybersecurity vulnerabilities into Taiwan’s digital infrastructure through Grab’s deep ties to autonomous-driving firm WeRide (文遠知行). Less than 16 months after the FTC blocked Uber Eats’ direct attempt to acquire Foodpanda Taiwan — citing potential combined market shares of 80 to 90 percent — the emergence of Grab as the buyer has prompted questions about whether the same competitive harm is simply being rerouted
The list of Asian stocks that benefit from business partnership with Nvidia Corp is getting longer, as the region further integrates into the artificial intelligence (AI) chip giant’s business ecosystem. Just in the past week, South Korea’s LG Electronics Inc, Taiwan’s Nanya Technology Corp (南亞科技), as well as China’s Huizhou Desay SV Automotive Co (德賽西威) and Pateo Connect Technology Shanghai Corp (博泰車聯) have become the latest to rally on news of tie-ups, supply-chain participation or product collaboration with the US chip designer. Asian suppliers account for about 90 percent of Nvidia’s production costs, up from about 65 percent last year, data compiled
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is seeking government approval for an advanced wafer fab at the Longtan (龍潭) campus of Hsinchu Science Park (新竹科學園區), the park's bureau said today. In a written reply, the Hsinchu Science Park Bureau said it would submit a proposal for the third phase of the Longtan Science Park (龍潭科學園區), including plans for a TSMC fab, later this month to the National Science and Technology Council for review. The contract chipmaker previously bid to build a fab using a process more advanced than its current 2-nanometer (nm) technology at the Longtan Campus, but the plan was shelved
RSS