Yahoo Posts $11.5M Loss in First Quarter, Announces Lay Offs

Share this content:
Yahoo Inc., Santa Clara, CA, yesterday said it lost $11.5 million in the first quarter and plans to lay off about 12 percent of its workforce to cut expenses.


The company said that for the first quarter revenue was $180.2 million, or a net loss $11.5 million, 2 cents per share. In the same quarter a year ago, the company posted revenue of $231 million and income of $67.5 million, or 11 cents per share.


Yahoo also said it plans to eliminate about 12 percent of its 3,510 employee workforce within the next 30 days and decrease some marketing and promotional expenses. The workforce reduction is expected to save the company about $12 million a quarter.


"We made some decisions that were difficult, but which ultimately balance the investment in our growth areas with adjustments to our near-term business plan to better position Yahoo for long-term growth," said Tim Koogle, Yahoo's chairman/CEO.


In the first quarter, Yahoo said it worked with 3,145 media and commerce customers in the quarter, down from 3,700 in the fourth quarter of 2000. Half of those companies were from outside the U.S., it noted.


Yahoo's traffic increased to more than 1.1 billion page views per day in the first quarter, up 22 percent from December. Unique users increased to 192 million in the quarter, from 145 million a year ago.


The company expects revenue for the second quarter to be between $165 million and $185 million. Earnings per share are expected to rise to break even in the second quarter.


Sign up to our newsletters

Company of the Week

PAN Communications is an award-winning integrated marketing and public relations agency for B2B technology and healthcare brands. PAN's data-driven approach allows the firm to specialize in public relations, social media, content and influencer marketing, and data and analytics. PAN partners with brands to create unique, integrated campaigns that captivate audiences and drive measurable results. PAN services clients out of the firm's four offices: Boston, San Francisco, New York City and Orlando.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above