Yahoo's quarterly profits plunge, fuel investors' concerns

  • Yahoo has posted a quarterly profit of $21 million for the three months ending March from $312 million in the previous year, performing worse than expected and fueling further investor concern.

    The internet giant’s revenue from its mobile offerings was up by 61% but overall revenue was below expectations.

    In a statement, Yahoo chief executive Marissa Mayer said that the internet firm was in the middle of a “multi-year transformation” that would “return an iconic company to greatness.”

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