Yahoo show signs of growth, but CEO wields axe - promises 50 sections to be cut

Yahoo show signs of growth, but CEO wields axe - promises 50 sections to be cut

Yahoo has finally shown signs of growth. No, it’s not the end of the world, as we know it, but the company reported that its revenues grew 1 percent the same time last year – the first since 2008, while its net earnings grew 28 percent.

It pretty much met Wall Street analysts expectations – though, admittedly, they were really low to begin with.

According to Yahoo, the company saw worldwide visitors grew 7 percent, and increase in people staying on the site with 14 percent in communications (i.e. Yahoo Mail) and 8 percent in its media-related titles such as News.

Though, the next quarter’s results will be a bit more interesting since the company has a new management team, axed a large number of jobs and its patent litigation with Facebook – if we see some improvements there, then Yahoo could ease the pressure from its shareholders to do better.

However, the CEO Scott Thompson in an earnings call, is still wielding the axe. Despite improvement, he is not satisfied with the results – according to TechCrunch – and said that he would be shutting down or transitioning at least 50 Yahoo properties to focus on some of core (and more profitable) properties.

“Yahoo has been doing way too much for too long and was only doing a few things really well,” he said; also adding, “Yahoo has built processes that were originally intended to help us scale but they’ve become way too complex and stifled innovation.”

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