News Column

Yahoo hurt again by plunging online advert sales and prices

July 16, 2014


STRUGGLING internet titan Yahoo took another blow yesterday, reporting a three per cent fall in revenues, driven by a slump in adverts.

The price of adverts has dived 24 per cent, contributing to a fall in overall revenues to $1bn (583m), down three per cent on the year.

To compensate for the poor performance the firm has decided to sell a smaller stake in the lucrative Chinese website Alibaba.

Yahoo owns almost a quarter of the e-commerce firm, and was planning to sell as many as 208m shares in the company;s upcoming stock market flotation.

Instead, it will now sell up to 140m, in a flotation expected to value Alibaba at as much as $130bn.

Yahoo shares slid 0.25 per cent.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: City A.M. (UK)

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters