Yahoo CEO Marissa Mayer said the web giant is continuing to make progress in mobile with 430 million monthly mobile users — a 30 per cent year-on-year growth — and more than half of the company’s total monthly audience coming from mobile.
Discussing the company’s latest results, Mayer said the company has moved from its core business being in decline to “a point of stable to modest growth”, partly driven by mobile.
For the first quarter of 2014, Yahoo reported GAAP revenue of $1.14 billion, down 1 per cent year-on-year, with net earnings down 20 per cent at $390 million.
Despite the progress in mobile, Mayer said in January that “our mobile revenue is still not material”.
However the executive touted the progress of the company’s apps, including Yahoo News Digest which was launched in January and incorporates the technology from Summly, which Yahoo acquired for $30 million last year.
“The product has gotten a tremendous response,” Mayer said, adding that 40 per cent of downloads for the product have become daily active users.
In addition, Yahoo saw growth of “nearly 100 per cent across almost every measure of our mobile search business” during the first quarter of the year, according to its CEO.
With mobile search key to the company’s future, Mayer said Yahoo is investing in the area, as shown by its recent acquisition of Aviate, which offers technology that uses contextual information – such as WiFi connection, GPS, accelerometer data or time – to provide users with access to the most relevant apps and information.
Yahoo is also taking an innovative approach to mobile advertising with Gemini, which Mayer described as the “first unified ad marketplace for mobile search and native advertising”, allowing advertisers to buy, manage and optimise ad campaigns in a single place.