Marissa Mayer Hasn't Fixed Yahoo's Search Business -- It's At An All-Time Low Now

The latest data on the search market is out from comScore, and it’s more of the same, which is not good for Yahoo.

Internet analyst Ben Schachter at Macquarie wrote up the comScore data in a report. He says Google’s search share is flat on a month-over-month basis at 66.9%. Bing was up 10 basis points to 18.1%. Yahoo was down 20 basis points to 11.1%.

Essentially, Bing is taking market share from Yahoo, which isn’t good for Yahoo or Google, since they’re partners in search.

More surprisingly, though, Schachter says Yahoo’s total query volume growth is flat on a year-over-year basis. Google was up 10%, and Bing was up 22%. The total search industry is up 10%.

Yahoo CEO Marissa Mayer comes from Google, so a lot of people expected her to fix this. Schachter says, “We are surprised that we haven’t yet seen more meaningful changes to the Yahoo Search User Interface.”

Search is important for Yahoo. It’s a high-margin business that contributes significantly to the company’s bottom line. Schachter estimates that 75%+ of the company’s EBITDA comes from search.

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