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Marissa Mayer Says Yahoo Continues To Make Solid Progress, Earnings Report Says Otherwise (fool.com)

Posted by BeauHD on from the low-expectations dept.

tomhath quotes a report from Fool: Yahoo! CEO Marissa Mayer tried to emphasize the progress that the company has made. "We continue to make solid progress against our 2016 plan," Mayer said, and "in addition to our efforts to improve the operating business, our board has made great progress on strategic alternatives." The CEO argued that the results met or exceeded the company's own guidance. Yahoo! was able to post a revenue increase by changing the ways that it presents revenue related to its search agreement with Microsoft, and without that change, adjusted revenue of $1.055 billion was down 15% from the year-ago quarter. That was even worse than the 13% drop investors were expecting, and adjusted EBITDA fell by more than a third. That resulted in adjusted net earnings of $0.09 per share, missing the consensus forecast by a penny but also glossing over a $440 million net loss on a GAAP basis. The company took a $395 million goodwill impairment charge and an $87 million intangibles impairment charge related to its Tumblr unit, determining that the fair value of the division is less than the amount indicated on Yahoo!'s balance sheet. It was also revealed that Yahoo is writing down the value of its Tumblr acquisition by $482 million, citing lower projections for the social network's future performance, according to a report from CNNMoney. Last quarter, the company took a $230 million write-down on its Tumblr acquisition. Since Yahoo acquired Tumblr for $1.1 billion in 2013, Yahoo has written down more than half of its value.

5 of 130 comments (clear)

  1. Doowylloh Accounting by Hognoxious · · Score: 5, Funny

    If she told me the sky was blue I'd glance up just to check.

    --
    Confucius say, "Find worm in apple - bad. Find half a worm - worse."
    1. Re:Doowylloh Accounting by XxtraLarGe · · Score: 4, Funny

      If she told me the sky was blue I'd glance up just to check.

      Yeah, with these kinds of numbers, she's almost as bad as Baghdad Bob saying the Iraqis were in full control as American tanks were rolling by in the background.

      --
      Taking guns away from the 99% gives the 1% 100% of the power.
  2. Yahoo the brand .. by khz6955 · · Score: 2, Funny

    "Yahoo"... The brand is the problem. It sounds like a good name for a personal website in 1998 (with 85 gifs and a turquoise background). link

  3. Ms Mayer made a miscalculation... by bayankaran · · Score: 1, Funny

    Yahoo also acknowledged that Tumblr â" its biggest acquisition under its current chief executive, Marissa Mayer â" was now worth only one-third of the $1.1 billion that Yahoo paid for it in 2013.

    30% of $1 billion is $300 million! Tumblr is worth $300 million!! Indeed a revelation!!!

    Ms Mayer made a miscalculation. If she was patient and not going into Yahoo, she had a chance to become the first woman CEO of Microsoft. Her competition Nadella is the poster child of mediocrity and she would have wiped the floor during CEO search.

    Imagine the damage and the headlines she would have created if she played with M$. Yahoo is too small for someone of her talent.

    --
    Tat Tvam Asi
  4. Golden Parachute by Jfetjunky · · Score: 2, Funny

    Nothing to see here, just a CEO stuffing her parachute a little more before jumping out of the plane and letting it go down in flames.