New Yahoo! Inc. (NASDAQ:YHOO), chief executive officer, Marissa Mayer, has identified Yahoo Search and email as her top targets, as she attempts to claw back lost glory in the industry that the company once dominated. The young CEO may not have presented her strategic plan for the struggling internet company, but she is pretty quick, off the blocks to try and up the standards of the company’s search engine and e-mail portals.
Mayer is apparently concerned with the company’s market share in the internet search sector, which seems to be rapidly slipping away, with the likes of Google Inc. (NASDAQ:GOOG)’s, Google Search, and Microsoft Corporation (NASDAQ:MSFT)’s Bing. According to Wall Street Journal, the CEO is reportedly holding meetings with the Yahoo! product leaders to address the matter.
Yahoo! Search sites lag behind those of Google and Microsoft in ComScore’s explicit search share statistics conducted in U.S for both home and work locations. The company’s search sites hold a market share of 13.4%, as compared to Microsoft search sites that have 15.4%, let alone Google Search sites, which hold a staggering 66.7%, after falling from last year’s figure of 15.9%.
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CNET news reports that, actually, Marissa Mayer has been looking to improve Yahoo! products for quite sometime now, ever since joining the ailing giant. They quote a report released barely a month ago, indicating that, since Mayer joined Yahoo!, it was beginning to become more like a technology company again. The CEO has also brought various other changes to the company, something we likened with her past stint at Google Inc. (NASDAQ:GOOG), in one of our articles.
Yahoo! may have had its problems in the recent past, but the introduction of such an exemplary CEO at its helm, makes it stand out from the rest, we have featured Mayer’s likely impact in detail in another article. So then, could this be the turnaround point for the company that has seen four CEOs come and leave in less than a decade? Investment wise, it could be, as we reported earlier, Dan Loeb, recently invested in a large amount of the company’s shares.
The company’s Q2 earnings exceeded analyst estimates, as featured in one of our earlier articles, where the company reported revenues in excess of $10 billion non GAAP and over $12 billion GAAP, which is just a 1% decline from last year’s figure. Non GAAP earnings per share shot up by 47%, to $0.27 per share.
At the time of this writing, Yahoo! Inc. (NASDAQ:YHOO) shares were trading at $16.05 per share, $0.13 down or a 0.77% decline from yesterday’s close.