Yahoo CEO says Microsoft search deal underperforms
By Alexei Oreskovic
SAN FRANCISCO (Reuters) - Yahoo Inc Chief Executive Marissa Mayer said the company's search partnership with Microsoft Corp was not delivering the market share gains or the revenue boost that it should.
"One of the points of the alliance is that we collectively want to grow share rather than just trading share with each other," Mayer said at the Goldman Sachs Technology and Internet Conference in San Francisco on Tuesday.
In her first appearance at an investor conference since taking the reins of the struggling Web portal in July, Mayer said she planned to prune a sprawling lineup of mobile apps and she reiterated her focus on enticing consumers to spend more time on Yahoo's online properties, in order to display more money-making ads.
"I'm not confused. Our biggest business problem right now is impressions. Basically can we grow impressions, can we get growth happening here," Mayer said.
Yahoo shares finished Tuesday's regular trading session up 31 cents at $21.21.
Mayer, 37, took over after a tumultuous period at Yahoo in which former CEO Scott Thompson resigned after less than 6 months on the job over a controversy about his academic credentials and in which Yahoo co-founder Jerry Yang resigned from the board and cut his ties with the company.
Yahoo's revenue in 2012 was flat year-over-year, at roughly $5 billion, and down from roughly $6.3 billion in 2010.
"We need to see monetization working better because we know that it can and we've seen other competitors in the space illustrate how well it can work," Mayer said of the search deal with Microsoft. Continued...