Why Did Yahoo (YHOO) Suddenly Delay Its Sale To Verizon?
Author By Sophia VidaPosted on Yahoo made a big announcement to start the week off. The company has delayed its $4.8 billion sale of its core internet assets to Verizon by several months.
What was supposed to close this quarter is now a deal that has been pushed into next quarter.
According to Yahoo there is “work required to meet closing conditions.”
Yahoo also just reported a profit of $162 million in the final three months of 2016. The company saw more than a billion users monthly last year as well.
The company had announced two big data breaches last year, but Yahoo CEO Marissa Mayer said, “Our top priority continues to be enhancing security for our users.”
“Approximately 90 percent of our daily active users have already taken or do not need to take remedial action to protect their accounts, and we’re aggressively continuing to drive this number up.”
Disclaimer: We have no position in Yahoo! Inc. (NASDAQ: YHOO) and have not been compensated for this article.
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