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Yahoo reports dull results as sale of search business looms
Earnings of nine US cents per share fall short of analysts' expectations; Tumblr writedown at US$482 million
Add BT as a preferred sourcePublished Tue, Jul 19, 2016 · 09:50 PM
New York
YAHOO Inc's quarterly earnings fell short of Wall Street expectations on Monday in what may be the company's last financial report before it sells its core business.
Yahoo reported adjusted earnings of nine US cents per share, short of the 10 US cents that analysts expected. It also announced a US$482 million writedown on the value of Tumblr, the social media service that it acquired in 2013 for US$1.1 billion.
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