Tech giant Yahoo is finally seeing growth after an era of decline. The positive results are signs that CEO Marissa Mayer’s turnaround strategy is working.
For the first time in four quarters, key revenue figures are growing and the firm reported a profit of 38 cents per share on $1.09 billion revenue. Although Mayer did admit that Yahoo still had far to go before a turnaround was complete. “Our modest success this quarter is an important start,” Mayer said. Yahoo hired more than 300 engineers during the quarter, and the all-important number of regular mobile users has grown to 430 million — a 30 percent bump from the same period last year.
Since taking the helm at Yahoo in July 2012, Mayer has made many bets on the company’s future, from acquiring businesses like Tumblr to adding boldfaced names like Katie Couric to the tech company’s media roster. Yahoo’s stock price is up 116% since Mayer took over.
[Sources: washingtonpost.com; forbes.com]