Yahoo expects 2016 revenue to drop about 15pc
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.
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.