Yahoo Monthly Active Users Up According To Mayer
Peter Suciu for redOrbit.com – Your Universe Online
Speaking at the TechCrunch Disrupt conference this week, Yahoo CEO Marissa Mayer expressed her delight at how things are going at the once struggling company.
Mayer announced that the Yahoo monthly active users are up 20 percent to 800 million globally, including 350 million monthly active users on mobile. These increases have come since Mayer took the helm of the company in July of last year, but do not include Tumblr, the high traffic social media news site bought for $1 billion earlier this year.
“I love hard work and big challenges,” Yahoo CEO Marissa Mayer noted during her talk at TechCrunch Disrupt, as reported by Venture Beat. “I am a happy if not happier at Yahoo [than I was at Google]…When I look at the state of the company, I said it would take three or more years to get the company going in the direction we wanted. But there’s been a chain reaction.”
The market seems to agree.
Yahoo stock hit $30 a share in early trading on Thursday for the first time since February 2008, and the stock price has more than doubled since Mayer arrived at the web portal. However, some of the gains are also due to the success of Alibaba, a Chinese e-commerce company that Yahoo owns a 24 percent stake in. As a result of that deal, Yahoo has since shut down its Internet portal in China.
Yahoo beat earnings estimates for the most recent quarter, but reportedly fell short on revenue, reporting sales of $1.07 billion – a seven percent decline from the same quarter last year.
Mayer also noted that the credit is not hers alone, and that predecessors including Yahoo co-founder Jerry Yang had made good investments in firms such as Alibaba. Still, Mayer does deserve a lot of credit, as the company’s stock is once again riding high.
“Much of the gain from Yahoo’s performance in the market is based on the restored confidence with the company,” said Rob Enderle, principal analyst at the Enderle Group. “It isn’t anything that Yahoo has done but rather confidence with the company and that goes back to the CEO.”
“Mayer has done a nice job of restoring confidence in Yahoo and the stock price reflects that,” Enderle told redOrbit.
Yahoo’s stock price is also approaching the symbolic milestone of $33 a share, which was Microsoft’s final offer to acquire the company back in 2008.
Mayer had helped turn the company around by focusing on its core products, including search and mail, and in these areas Yahoo has seen significant growth. The web portal also continues to push into mobile products.
While Mayer has made a number of high profile purchases – with Tumblr being among the most notable – the company has also scaled back. Yahoo has shuttered some properties, including the AltaVista search engine earlier this year, and Yahoo pulled out of South Korea last year after closing its web portal and ending its presence in the country.
Mayer also noted that her biggest threat might not be from rivals, such as her former employers at Google, but from the United States government. She said that she feared winding up in prison for treason if she refused to comply with US spy demands, but added that the company will continue to scrutinize and even fight US government data requests stamped with the authority of a Foreign Intelligence Surveillance Court.
However, when the company loses battles she admitted that it must do as directed or risk being branded a traitor.