Yahoo’s latest earnings report leaves no doubt the internet company is stuck in a downward spiral.
The company managed to beat Wall Street’s limited expectations for revenue in the April-June quarter. But after subtracting commissions paid to its partners, Yahoo said its revenue fell 19 per cent from a year earlier, while its loss widened to $440 million.
Investors are waiting to hear about the company’s plans, after Yahoo’s board began soliciting bids from prospective buyers earlier this year. Monday was the deadline for final offers.