Yahoo earlier announced that as of March 2017, 3Fiscal Year 2017 First Quarter Financial Report, total revenue reached US$13.27 billion, a 10.87% increase from US$22 billion in the same period last year. At the same time, net profit increased to US$9900 million, a significant increase compared to the loss of US$9900 million in the same period last year. The main revenue came from profits brought by mobile devices and Yahoo search business.
In addition, Yahoo CEO Marissa Mayer also confirmed that Yahoo's Internet business will be fully integrated into the Verizon system in June this year, so this will be the last time Yahoo will release its financial report as an independent company.
According to previous news, after the Yahoo Internet business was merged into the Verizon system, the remaining business system in which China's Alibaba holds a 15% stake will beTemporarily using the name Altaba, and Yahoo Japan will maintain its original operating model. As for how Yahoo Taiwan will adjust its organizational changes in the future, there is no specific news yet.
As for Yahoo's Internet business after being integrated into the Verizon systemOath will be used as the internal temporary name, and will continue to use the Yahoo brand name in its external products. Yahoo CEO Marissa Mayer also recently confirmed that she will step down as a board member after the company is integrated into the Verizon system, and will receive a severance pay of approximately US$2300 million. The person who will succeed Marissa Mayer as the future CEO of Altaba is Thomas J. McInerney, who was formerly the CFO of the Internet company IAC (Inter Active Corp). At the same time, Alexi Wellman, former Yahoo's global financial director, will take over as Altaba's CFO.
The Yahoo online division, which will be merged into Verizon, will use Oath as its temporary internal name and will integrate resources with AOL, also part of Verizon. The focus will be on developing online and mobile advertising, while also expected to deepen content applications. The merger will be led by Marni Walden, Verizon's executive vice president and president of product innovation and new business units.
