Yahoo misses Q3 targets, will cut spending on workforce

Yahoo’s net revenue missed Wall street targets in the third quarter and said it will cut spending in its workforce , the latest evidence that the internet company’s three-year turnaround effort is struggling to gain any traction.

Yahoo’s stock, which has risen about 19 per cent over the past few weeks, was down 2% in after hours trading on Tuesday.

Here are some of the key numbers from Yahoo’s third quarter, ended September 30:

  • Net Revenue, excluding TAC: $US1 billion, versus analyst estimate of $US1.02 billion
  • Adjusted EPS: 15 cents versus analyst estimates of 16 cents.

Yahoo CEO Marissa Mayer is her fourth year of an effort to revitalize the pioneering internet service, which has seen its advertising revenue and user engagement stall.

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