Yahoo 2Q13 Earnings Call Notes

posted in: Notes | 0

This post is part of a series of posts called “Company Notes.” These posts contain quotes and exhibits from earnings calls, conference presentations, analyst days and SEC filings. The quotes are generally pieces of information that I find interesting or helpful to understanding the company, industry or economy and are not meant to provide summaries of the full content of the call. Other posts in this series can be found by clicking here. Full transcripts can be found at Seeking Alpha.

“As you likely know Yahoo’s traffic has been in decline, this slide shows Yahoo’s pageview traffic in 2012. Setting aside seasonal peaks and values there is a clear downward trend. Watching this chart develop it became clear that our first milestone would be to get traffic growing again, ideally reaching crossover with a previous year. I’m excited today to announce that we have done just that. This is our 2013 pageview traffic, it’s clearly growing.”

“In Q2, we saw 59% decrease in attrition year-over-year. We have not only inspired Yahoos internally, people are applying to work here in record numbers. In our peak week, we received nearly 10,000 resumes and former Yahoo’s are coming back”

“Thank you for joining us today for our first live streaming video broadcast of our quarterly earnings presentation”

“As our product sprint really kicks in the high gear, we are going to continue to invest in search and the user interface. The search experience we are iterating on will be more beautiful, more immersive and will grow usage.”

“Moving to mobile, I grade our progress in mobile as an A over the past year.”

“let’s turn to display and video. In these areas, we have got a lot of work to do…”

“Our display business has felt some negative impact, particularly due to the shifts around programmatic buying. We need to do a much better job here in order to reverse these trends… In addition to improving our user-facing products, we are also investing in our ad technology to enhance our advertiser offerings and increase our platform’s capabilities in the phase of a very competitive display marketplace.”

“video, as I have mentioned in the past, our video inventory sells out months in advance, which is not a good thing.”

“the other thing that really makes us very excited about video is that advertisers really like it, it’s something that translates really well from the format that they are used to, so an advertising can start on television, makes the jump to online and also ultimately be viewed on tablets and smartphones.”

“we don’t believe that Tumblr, for example, will provide meaningful revenue this year. There will be some, but it won’t be very meaningful”

“The acquisitions we have made to-date have all been smaller what we might call tuck-in, talent acquisition that’s really been about making an investment particularly in mobile, in fact most of our acquisitions have been mobile but they have been small teams that have been able to come on and immediately take on as a team that already knows how to work together well…A lot of the talent acquisitions that I have talked about we actually have shut down their products and favored having them work on some of Yahoo’s core products”