Friday 9 December 2016

Yahoo expects 2016 revenue to drop about 15pc

Published 07/04/2016 | 07:11

Yahoo chief executive Marissa Mayer
Yahoo chief executive Marissa Mayer

Yahoo expects a sharp decline in both its revenue and earnings this year compared with 2015, with revenue seen falling nearly 15pc and earnings over 20pc, Re/code reported on Wednesday, citing a Yahoo document.

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The financial situation at the Internet company is becoming "increasingly dire," Recode said, citing pages from the "book" of disclosure documents that Yahoo bankers have given out to prospective buyers.

A Yahoo spokesperson declined comment on the report.

Yahoo also expects its employee count to fall to about 9,000 at the end of 2016, from 10,500 in 2015, but stock-based compensation remains steady, the technology news website said.

The company expects 2016 revenue, backing out traffic acquisition costs, of $3.5bn in 2016 and earnings before depreciation, taxes and amortization of $750m, Re/code said.

Reuters

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