Yahoo posts loss, revenue falls slightly

28.01.2009

For 2009's first quarter, Yahoo expects revenue between $1.52 billion and $1.72 billion, and operating cash flow between $365 million and $415 million.

Bartz was hired away from Autodesk, where she was executive board chairman after serving as chairman, president and CEO for 14 years, until April 2006.

The day Bartz's appointment was announced, Yahoo President Sue Decker, who had been a candidate for the CEO position, resigned, saying she will leave after a transitional period. Decker worked at Yahoo for eight-and-a-half years and was a close supporter of Yang.

Yang's tenure included an unsolicited acquisition attempt by Microsoft, and critics blamed the failure of that deal on Yang and the Yahoo board. Later, a deal to let Yahoo run Google search ads collapsed after it became clear the U.S. government planned to challenge it due to antitrust concerns. The deal would have given Yahoo's revenue a significant boost.

Yang's tenure as CEO also featured two big rounds of layoffs, an embarrassing exodus of high-profile managers, disappointing financial results, a tanking stock price, free-falling employee morale and little or no advances in key areas, like search usage and search advertising.