Yahoo is out with its latest earnings report, and though the results pale in comparison to those posted by Google last week, the company is doing its best to offer an upbeat outlook.
Revenue for Yahoo was more or less flat for its third quarter, rising just 2% from the same period last year to $1.6 billion. Income was up substantially, however -- 107% year-over-year to $189 million -- thanks largely to what CEO Carol Bartz described in a statement as “margins that were double what they were last year.”
Bartz also noted some recent highlights in the company’s longer-term strategy, including its ongoing integration of Microsoft Bing for algorithmic search, its partnership with Zynga and the acquisition of Associated Content. “We’ve made substantial progress this year toward executing our strategies for enhancing profitability and resuming revenue growth,” said Bartz.
The company is also doing its best to signal that its shares are undervalued, with Bartz adding that Yahoo has, “bought back more than 7% of the company's stock this year alone.”