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Yahoo CEO Scott Thompson 'not satisfied' with firm's 'pace of growth'

Washington, Wed, 18 Apr 2012 ANI

Washington, Apr 18 (ANI): Embattled Internet firm Yahoo's new CEO Scott Thompson has said that he is not satisfied with the company's current pace of growth, despite surpassing analysts' expectations.

"I'm not satisfied by the pace of top line growth and I won't be satisfied until it is at least in line with the market," Thompson, who became chief executive in January, said.

He added that the commercial performance of its display advertising business had not kept pace with improvements in the technology that underpins it.

According to The Telegraph, Yahoo grew first-quarter revenues to 1.08 billion dollars, putting it slightly ahead of the analysts' consensus of 1.06 billion dollars.

Thompson said the company was on track to achieve a turnover of between 1.03 to 1.14 billion dollars in the current quarter, but admitted it had kept the forecast range deliberately wide because the business was still volatile.

Thompson, the fourth chief executive of Yahoo, said the company was still looking at selling its 40 percent stake in Alibaba, the Chinese web giant.

According to the paper, he said it was in active talks about a "simplified transaction structure" to help monetise the holding, which is valued at billions of dollars. (ANI)

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