Marissa Mayer finally has something, however modest, to crow about, Vindu Goel reports.
Yahoo reported strong third-quarter financial performance on Tuesday, posting profits from its core operations that far exceeded Wall Street’s expectations while breaking a pattern of revenue declines.
And mobile, long a problem for the company, has for the first time contributed meaningfully to its results. Ms. Mayer, Yahoo’s chief executive, said mobile revenue exceeded $200 million in the quarter and she expected it to top $1.2 billion for the full year. Yahoo and its Tumblr unit together had 550 million monthly users on mobile devices during the quarter, up 17 percent from a year ago.
But Ms. Mayer did not address the biggest concern on the mind of investors: How does Yahoo take advantage of its $43 billion in stock holdings in the Alibaba Group and Yahoo Japan? Read more »