Yahoo today announced losses of 536.7 million dollars in the first half of the year compared to 2.9 million profit in the same period of 2015, showing the increasing contraction of its core business of Internet, which the company has for sale.
Marissa Mayer, CEO of the company, said in a statement that the technology firm is still trying to improve its operating business and has made “great progress” in seeking ” alternative strategies, “referring to the sale process underway.
Sources familiar with the situation said the newspaper the Wall Street Journal that the company will review the third, and perhaps final round of bids for its core business internet in the coming days.
Moreover, the company, based in the Californian town of Sunnyvale said its gross operating profit (EBITDA) in the six months ended 30 June was 319.4 million dollars, compared to 492.8 million dollars in the same period last year.
Yahoo’s market capitalization amounted to 36.000 billion dollars, but the bulk of that value is attributed to its holdings in the e-commerce group Chinese Alibaba and Yahoo Japan and not the core business of Internet.
the firm Pivotal analysis Research estimates that the value of the core business could be around 3,500 million.
the results announcement released today comes nearly four years after Mayer assume the reins of the company with the promise to amend the direction of the company through acquisitions and increased investment in video and search.
analysts advance that Mayer will step down once the sale of assets is completed internet. EFEUSA
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