Yahoo's profit still beats Wall Street after the hack of more than 500 million user accounts. The internet giant is still comfortable with its better-than-expected financial results even if it has gone through a lot of bad press over the past few weeks.
Perhaps, the biggest hack and theft of personal account information in history could have led to a quick exodus of its customers. However, email usage and page views grow according to Reuters. Furthermore, the hacking led to speculations that Verizon would withdraw its $4.83 billion deal to purchase Yahoo's core business.
The internet pioneer continues to go about its business through it all including Yahoo Mail, Sport and Finance. According to Cnet, it seems like it is successful when it sticks on to business. And last Tuesday October 18, the profit reported by Yahoo exceeded the expectation of Wall Street.
The revenue received from Mavens rose to $524 million and that is 24.2 percent increase. Although the gross search revenue fell to $752.5 million and that is 14.1 percent decrease, Marissa Mayer, the CEO of Yahoo said in a statement found in Yahoo that they are still confident to bring value to the lives of their users not only considering the value of their business.
After the announcement of earnings, Yahoo decided that the public won't be hearing much more about the third quarter earnings of the company because it is a standard operating procedure to skip regular call with analysts after the results are already announced. For now, the company is focusing on protecting their users against online threats as well as on regaining their trust to ensure that loyal customers will engage in their business again with comfort.
There are also speculations that the Wireless Company, Verizon, wants to shave off $1 billion off the sales price considering the fortuitous hacking of accounts. Commentators suggest that the company may possibly back out completely if they cannot deal with their renegotiation.