There is no other way to say it: Yahoo really blew its first quarter, reporting earnings and revenue that were well below already lackluster expectations from Wall Street.
The issues for the company are myriad, including the declines across its display advertising business, increased traffic-acquisition costs and a basic lack of new and innovative products that ultimately drive growth. CEO Marissa Mayer is trying to move Yahoo into mobile quickly, but her three-year turnaround effort is still not working.
You can peruse the numbers yourself, but page five kind of says it all, with net margins of 2 percent and net earnings of just $21 million:
Here are the results:
YHOO_News_2015_4_21_Financial.pdf by karaswisher
YahooQ1consolidated.pdf by karaswisher
YHOO_1Q15YHOOEarningsSlides_vs_FINAL.pdf by karaswisher
This article originally appeared on Recode.net.