Yahoo reports 11.3 percent fall in revenue

Thomson ReutersFile photo of Yahoo CEO Marissa Mayer delivering her keynote address at the annual Consumer Electronics Show (CES) in Las Vegas

(Reuters) – Yahoo Inc reported a 11.3 percent fall in total quarterly revenue on Tuesday as the web pioneer struggles to boost growth in its core search and display advertising business, which it is in the process of auctioning off.

Yahoo’s total revenue fell to $1.09 billion in the first quarter ended March 31 from $1.23 billion a year earlier.

After deducting fees paid to partner websites, revenue fell to $859.4 million from $1.04 billion.

In her nearly four years as Yahoo’s chief executive, Marissa Mayer has made little progress in her attempts to win back market share from bigger Internet players such Facebook Inc and Alphabet Inc’s Google.

Yahoo, under pressure from activist investors, launched an auction of its core business in February, after it shelved plans to spin off its stake in Chinese e-commerce giant Alibaba Group Holding Ltd . The first round of bids for interested parties closed on Monday, according to media reports. Yahoo said in its earnings statement on Tuesday that “it remained focused on the strategic alternatives process as a top priority.”

(Reporting by Anya George Tharakan in Bengaluru; Editing by Savio D’Souza)

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