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Yahoo is emerging from the crisis. The company has shown a profit first time in a while

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Yahoo is emerging from the crisis. The company has shown a profit first time in a while
April 19
10:00 2017

After a series of failures, Yahoo has finally showed a positive trend. The company’s press release has recorded a net profit of $ 99 million for the first quarter of 2017. For the same period last year, the company showed a loss of the same size. The company’s revenue has also increased, in absolute terms its volume has amounted to 1.33 billion US dollars, which is 0.23 billion US dollars more than the same period last year.

It is planned that no later than in two months the Internet company will be acquired by Verizon Communications. The deal, amounted to 4.83 billion US dollars, was made about a year ago. Under the terms of the agreement, Yahoo’s operational business will be merged with the media conglomerate AOL.

After the transfer of the operational office, Yahoo will only have an investment portfolio consisting of Alibaba shares. The total value of these assets exceeds 30 million US dollars. Thomas McInerney will manage the portfolio.

It should be reminded that a series of troubles has been following the company for a long time. So, last month it became known that the court would consider the claim of shareholders in connection with the theft of users’ personal data. In addition to the Yahoo Company itself, the director of the company Marissa Mayer as well as Verizon Communications Inc. have become the defendants in this case. It is reported that in connection with the withholding of the information about the theft of the data, the company has lost $ 350 million.

 

The material was prepared with the participation of  Vladimir Haritonov,
a leading analyst of the brokerage company VOSPARI.

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1 Comment

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