Yahoo CEO pledges to boost profit margins

Nov 10, 2009 By ALEX KENNEDY , Associated Press Writer
Chief Executive Officer of Yahoo Carol Bartz addresses a American Chamber of Commerce lunch in Singapore, Tuesday, Nov. 10, 2009. (AP Photo/Wong Maye-E)

(AP) -- Yahoo Inc. Chief Executive Carol Bartz promised Tuesday to turn around the struggling Internet company after this year's "terrible" performance.

Bartz reiterated her goal to boost operating profit margin to between 15 percent and 20 percent within the next two or three years by spurring revenue and cutting costs.

That would be a sharp improvement over this year's margins of 6 percent - a result she described as "terrible, terrible."

" is certainly poised to execute financially," Bartz said at a luncheon hosted by the American Chamber of Commerce in Singapore. "We saw the economy stabilize in the last quarter and that feels really good."

Sunnyvale, Calif.-based Yahoo has been losing ground to Inc. and other hot Web sites, such as Facebook. Yahoo expects revenue to fall in 2009 by 11 percent to $6.4 billion, despite trimming its work force by 13 percent, or 2,000 jobs in the past year.

The company's , which has rebounded to $16 a share from below $9 in November 2008, has slid since 2006, when it was above $40.

"They (investors) are fairly valuing it," Bartz said. "I'm never going to say woe is us."

Bartz, who plans to meet with Indian Prime Minister Manmohan Singh later this week, said Yahoo plans to expand its operations in India and hire more staff, but she did not give additional details.

©2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Explore further: Amid scrutiny, Uber vows bigger focus on safety

add to favorites email to friend print save as pdf

Related Stories

Yahoo's feeble 1Q triggers nearly 700 more layoffs

Apr 21, 2009

(AP) -- Yahoo Inc.'s first-quarter results tread familiar ground as the Internet company's financial erosion triggered another round of layoffs and management promised better days ahead.

Yahoo plans first major layoffs under new CEO

Apr 15, 2009

(AP) -- Yahoo Inc. is gearing up for its third round of mass layoffs in 14 months, signaling the long-slumping Internet company is still struggling to snap out of its financial malaise under a new leadership team.

Yahoo CEO: Shake-up needs more time, not Microsoft

Jun 03, 2009

(AP) -- Yahoo Inc. Chief Executive Carol Bartz has a message for investors hoping for a quick fix at the slumping Internet company or for an online search partnership with Microsoft Corp. - don't expect either to happen ...

Recommended for you

Underfire Uber ramps up rider safety

8 hours ago

Uber is ramping up driver background checks and other security measures worldwide after the smartphone-focused car-sharing service was banned in New Delhi following the alleged rape of a passenger.

Sony cancels NKorea parody film release after threats

9 hours ago

Hollywood studio Sony Pictures on Wednesday abruptly canceled the December 25 release date of "The Interview," a parody film which has angered North Korea and triggered chilling threats from hackers.

Sprint accused of billing for unwanted services

13 hours ago

(AP)—Federal regulators are accusing Sprint Corp. of illegally billing its wireless customers hundreds of millions of dollars in charges for text message alerts and other services that they didn't order.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.