Net income totaled $141 million, compared to $131 million during the same period a year earlier. Revenue, on the other hand, fell to $1.57 billion, down from $1.8 billion.
The company, which faces a new competitor in the form of Microsoft’s Bing, struggled as advertisers cut online spending because of the recession. No. 1 search engine Google Inc. has the same problem, although to a lesser degree.
Still, cost-cutting measures – including hundreds of layoffs – cushioned the blow for Yahoo.
.@informatechhq adds IHS Markit's TMT assets to its growing portfolio of products and capabilities. goo.gl/fb/whGbsh
May 24 2019 @ 15:22:08 UTC