Marissa Mayer just cannot catch a break...
Yahoo's net revenue fell 8% in the third quarter, missing Wall street targets and underscoring its continuing struggles to revitalize its business.
The company said that it cut spending in its workforce and facilities during Q3 and that it will "narrow" its strategy and product focus going forward.
Yahoo's stock, which has risen about 19 percent over the past few weeks, slipped 1.7% in after hours trading on Tuesday.
"As we move into 2016, we will work to narrow our strategy, focusing on fewer products with higher quality to achieve improved growth and profitability," said CEO Marissa Mayer in a prepared statement with the quarterly results.
And it's gotten so bad at Yahoo that competitors are starting to take pity...
Yahoo…also said it had signed a search advertisement deal with Google Inc, a unit of Alphabet Inc.
Google will pay Yahoo a percentage of revenue from ads displayed on Yahoo sites and get fees for requests for image or Web search results.
And that money is going to come in handy because Yahoo has cut back on spending everywhere it possibly can... Just ask 'em.
"This quarter we've reduced spending in areas such as workforce, facilities and discretionary expenses, and in our ongoing efforts to control expenses, we'll continue to focus our headcount on growth initiatives," CFO Ken Goldman said in a prepared statement.
Like most trainwrecks, it's hard to avert your eyes from the huge, smoldering Y-shaped disaster that is Yahoo Inc.
But there is one last hope. Spinning off that Alibaba stock and trying to sell it without getting slapped by the taxman. Yahoo is a big company with expensive lawyers, this could just work...
Many investors are more interested in Yahoo's 15% stake in Alibaba than in Yahoo itself. Yahoo plans to spin off the Alibaba shares into a separate company by the end of the year. But the IRS has refused to give its advanced blessing that the spinoff will be treated as a tax-free transaction.
Vaya con dios, Yahoo.