Yahoo surpassed analyst expectations during its most recent quarterly review, despite a mild slide in profitability.
The report seemed to validate changes being implemented by cofounder and chief executive Jerry Yang, and investors bumped shares as a result.
From a top level, revenues reached $1.8 billion, a 12 percent bump over figures of $1.6 billion from the comparable third quarter last year. Net income landed at $151 million, down 5 percent from $159 million last year.
Yang pointed to growth over the past three months, and a continued re-sharpening. The chief is aiming to become a starting point for most surfers, a “must buy” for advertisers, and an open platform that will “attract the most developers.”
The discussion also offered more clues into the music strategy. Yang reaffirmed a shift away from the premium, Yahoo Music Unlimited service, but clearly earmarked a spot for music within search and other advertising-driven areas. “We have deemphasized our focus around subscription music in favor of advertising-supported music,” Yang said. “Our broader ambition is to focus our efforts around building platforms that attract third parties and user-generated content, while deemphasizing original entertainment programming and our premium music business.”
