December 23, 2009 |
Yahoo Inc. confirmed Tuesday that it would shut down most operations during Christmas week to save money, but experts said the holiday lull was par for the course in the Silicon Valley. The Internet company is mandating that most of its employees worldwide, except for those responsible for "essential functions" such as customer service, take off work Dec. 25 through Jan. 1. In the U.S., employees can either use vacation time or take unpaid leave. Christmas and New Year's Day will still be paid holidays.
August 21, 2009 |
Three powerful technology companies have banded together to oppose Google Inc.'s proposed settlement with the Authors Guild and the Assn. of American Publishers over the Internet search giant's book scanning project. Microsoft Corp., Yahoo Inc. and Amazon.com Inc. have signed on to a coalition being assembled by the Internet Archive and Gary Reback, a Silicon Valley antitrust lawyer, said Peter Brantley, director of the Internet Archive, a San Francisco nonprofit that is trying to build a free digital library of Internet content.
July 22, 2009 |
Despite an economy that has crippled consumer spending, shoppers still shelled out money for iPhones, iPod Touches and other premium products sold by Apple Inc., driving the company to post its best June quarter sales, the electronics giant said Tuesday. The recession, however, did not spare Yahoo Inc. The beleaguered Internet portal posted a 13% plunge in revenue over a year earlier as businesses continued to cut back spending on online advertising.
April 24, 2009 |
Yahoo Inc. said Thursday that it would shut down its GeoCities free Web-hosting service after paying about $3 billion for the unit in 1999. GeoCities isn't accepting new accounts and will close later this year, Yahoo said. GeoCities, Yahoo's second-biggest acquisition behind Broadcast.com Inc., lets users design personal websites to show off photos, promote local clubs or publicize business services.
April 22, 2009 |
Yahoo Inc. posted drops in revenue and profit in new Chief Executive Carol Bartz's first quarter on the job, and announced plans to cut about 675 workers from its payroll, as the tech industry showed signs of continued economic battering. Although Yahoo met analysts' estimates, its revenue fell to $1.58 billion for the first three months of 2009, down 13% from $1.82 billion a year earlier. Net income was $118.7 million, or 8 cents a share, compared with $536.
January 28, 2009 |
Yahoo Inc. reported a $303-million shortfall Tuesday, its first quarterly loss since 2002, as the struggling Internet company took charges to acknowledge the shrinking value of its business. Cutbacks by advertisers, especially on Web banners, hurt Yahoo's revenue, which also dropped for the first time in seven years. Eight days into her new job, Yahoo Chief Executive Carol Bartz warned analysts during a conference call that tough times would continue.