Yahoo CEO Marissa Mayer promises a return to 'greatness' amid business slump

Marissa Mayer claimed on Tuesday that she is in the process of returning "an iconic company to greatness," but the company's latest earnings results don't quite support the rhetoric.

Yahoo posted earnings of $0.15 per share on revenue of $1.04 billion for the quarter, falling short of Wall Street's anemic estimates for earnings of $0.18 per share on revenue of $1.05 billion.

To put that in context: Yahoo revenue fell by about 4% year-over-year and its net earnings fell from $312 million a year earlier to just $21 million this quarter

That's a loss of about 93%, as the company spends more on operations and acquiring traffic Read more...