Nearly 50 products to be shut down
Yahoo has revealed plans to phase out 50 products that the company believes as non-core to the firm.
The company’s chief executive officer Scott Thompson confirmed that properties that don’t contribute to revenue will be abandoned.
Scott who announced the decision as part of company’s turn around plan after the company’s recent financial report which saw a rise of 28% profit while it saw a year on year revenue rise for the first time since 2008.
The company’s first-quarter earnings rose a better-than-expected driven by its advertising revenue as well as improvement in its search business.
"Each of our products and services may individually generate more engagement than most start-ups or even mid-sized companies in certain markets, but that does not mean that we should continue to do everything we currently do," Scott was quoted as saying in a transcript of the conference call by Seeking Alpha.
News , sports, finance, entertainment and mail were reported to be safe though the units which would be shut down were not specified.
The company has also made announcements to resize the organization into three main groups, consumer, technology and regions and frame a new leadership structure.
In the latest quarter, company’s core display-ad business dropped 3.6% after traffic-acquisition costs while its search ad revenue rose 7.6%.