Marissa Mayer just signed on as the new CEO of Yahoo Inc., and she’ll have her work cut out for her after the company on Tuesday released its quarterly financial information. According to the report Yahoo revenue continued to slip, hitting just $1.22 billion. The company’s profits also declined by 4.2 percent to just $228.5 million.
Yahoo’s loss in revenue and profits come at a time when the company has been attempting to trim costs through restructuring. Before transitioning to a new CEO following the Scott Thompson resume scandal Yahoo had announced plans to layoff 2,000 workers. With the shift in CEO executives at Yahoo have begun to refocus their efforts on stronger product groups in an attempt to create additional profitability.
CEO Marissa Mayer could be Yahoo’s last great hope, she is largely credited with designing some of Google’s most successful products including Google News, Google Images, Gmail and others. Marissa took over the company on Monday and quickly called Yahoo one of the “best brands on the internet” while acknowledging that much work must be done to turn the company around. Given her focus on web technology and products some analysts believe Yahoo plans to draw some of its focus away from content and place that focus on useful web-based products.
While Yahoo has continued to lose money many analysts believe the slow down in those losses could signal a turning point for the company as Yahoo attempts to grow its market share in the content development and advertising sectors.
With more than 700 million monthly users the 37-year-old first-time CEO has her work cut out for her. Did I mention she just announced her pregnancy.