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Yahoo signs ad pact with Google

  • Yahoo Inc
    has announced it has signed a search advertising deal with Google Inc,
    providing a potential boost to Marissa Mayer’s efforts to turn around the
    company, which also reported revenue and profit that fell short of market
    estimates.
  •  
  • The deal
    with Google, a unit of Alphabet Inc, builds on an existing search partnership
    Microsoft Corp under which Yahoo gets a percentage of revenue from ads

    • Yahoo Inc
      has announced it has signed a search advertising deal with Google Inc,
      providing a potential boost to Marissa Mayer’s efforts to turn around the
      company, which also reported revenue and profit that fell short of market
      estimates.
    •  
    • The deal
      with Google, a unit of Alphabet Inc, builds on an existing search partnership
      Microsoft Corp under which Yahoo gets a percentage of revenue from ads
      displayed on its sites, reported
      Reuters.
    •  
    • Yahoo said
      the companies have agreed to delay implementation of the deal in the United
      States to allow the antitrust division of the Department of Justice to review
      it.
    •  
    • The company
      has been struggling to boost revenue from ad sales in the face of stiff
      competition from Google and Facebook. The Google deal was one of the few bright
      spots included in the company’s third-quarter results statement.
    •  
    • Yahoo said
      it expected fourth-quarter revenue of $1.16 billion-$1.20 billion, well below
      the average analyst estimate of $1.33 billion.
    •  
    • Mayer, in
      her fourth year as chief executive, said the forecast was “not indicative
      of the performance we want. We are also experiencing continued revenue
      headwinds in our core (advertising) business, especially in the legacy portions.”
    •  
    • Yahoo said
      the proposed spinoff of its 15 percent stake in Chinese e-commerce giant
      Alibaba Group Holding Ltd – a key issue for shareholders – may now close in
      January.
    •  
    • Yahoo
      earlier this year sought a private letter ruling from the Internal Revenue
      Service to confirm whether the transaction, worth about $27 billion currently,
      would result in a tax obligation. The tax agency denied the request, but Yahoo
      said it would go ahead with the spinoff by year-end anyway.

     

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