Yahoo’s Profits Are Up, Thanks to All Their Job Cuts
Yahoo’s Profits Are Up, Thanks to All Their Job Cuts
Posted 10/20/2009 at 2:52pm
| by Jason Barry
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Yahoo was able to report positive numbers to the tune of $186m so far this year compared to the disappointing $54m they reported this time last year. While those numbers seem promising, sales fell about 12% this year with revenue down to $1.58b.
They can report these numbers because thye slashed more than 2,000 jobs during the past year, freeing some of their overhead costs. Further, they deployed some large service changes, such as welcoming the use of rivals onto its portal, and upgrading and enhancing its web search tools. They also initiated a $100m global advertising campaign for its portal and advertising services.
Most likely, Microsoft is happiest to hear this positive growth as they signed a deal in July to utilize Yahoo’s advertising sales in exchange for Microsoft’s search services. The Federal Trade Commission is still finalizing the deal.
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