Yahoo reported £332m loss but £45.6m increase in revenue

Yahoo reported a $60m rise in revenue to $1.3bn for the three months to June 2016. The increase was mainly due to its core internet business and also mobile revenue leapt from $252m to $378m. Chief Executive Marissa Mayer said about attempt to sell its core internet business as the firm slumped to $440m (£332m) loss in the second quarter “We have made great progress on strategic alternatives”. There are speculation about Verizon, the telecoms giant which recently bought AOL, AT&T and partnership Quicken Loans founder Dan Gilbert and billionaire Warren Buffett who were all thought to be in contention.

Yahoo could announce a buyer fetching about $8bn, by the end of the month , according to some analysts reports. Shares rose 0.6% to $37,95 valuing Yahoo at $35.8bn, as some of Yahoo’s take in Chinese ecommerce giant Alibaba.

Ms Mayer was still focused on increasing growth and cutting costs and with that in mind they cut 15% of its global workforce.