Yahoo Reports Lackluster Results As Sale Looms
July 20, 2016
Yahoo Inc’s (YHOO.O) quarterly earnings fell short of Wall Street expectations on Monday in what may be the company’s last financial report before it sells its core business.
Yahoo reported adjusted earnings of 9 cents per share, short of the 10 cents that analysts expected. It also announced a $482 million write-down on the value of Tumblr, the social media service that it acquired in 2013 for $1.1 billion.