Yang Cleans Up Yahoo
The 2007 Q2 for Yahoo has been released with disappointing results. There has been blame put on the previous mistakes which subsequently, did not bring in as much revenue from display ads and affiliates.
Jerry Yang promises to turn this around. Coming in with $599 million, Yahoo’s marketing services revenues from affiliate sites has dropped 5% from Q2 last year. However, revenues from Yahoo’s owned and operated sites were up 18% over last year’s Q2 coming in with $887 million.
The company’s net income fell about $3 million from $164 million this time 2006, yet the revenues rose about 8% to $1.7 billion this time last year.
Yang, co-founder and recently named CEO of Yahoo, has given investors a promise that he will spend the following 100 days revamping the organization. This will happen through planning investments, deemphasizing underperforming initiatives or cutting them altogether and hiring new staff members.
He said, “There is a significant gap between where we are and where we need to be in the competitive landscape. There will be no sacred cows and we need to move very quickly.”
President Susan Decker pointed to keeping Overture as a standalone unit as one of the company’s potential slipups. However, she also has referred to the integration of the sales and marketing groups as “points of light”, hailing the embracing of the Panama ad platform. She said, “Various legacy clouds are masking these points of light. We believe that some of the legacy issues that were hampering growth will be addressed.”
Yahoo is hoping that their recent launch of SmartAds, an automated behavioral system and the approval of the acquisition of Right Media will provide the momentum towards an improved Q3 and Q4 report.
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